“Hungary wants to become a climate neutral country by 2050, which means it will not emit more carbon dioxide than its forests can absorb.” – He confirmed In 2021, Attila Steiner, then at the Ministry of Innovation and Technology (ITM), took over as Secretary of State responsible for Circular Economy Development and Energy and Climate Policy, at the Global Sustainable Portfolio 2021 conference.
László Czatari, Trustify Befektetési Alapkezölé Board Member and Deputy Chief Investment Officer, demonstrated the scale of investment required in these areas through analysis included in McKinsey's Climate Neutral Hungary publication:
In order for our country to achieve zero carbon dioxide emissions by 2050, approximately 200 billion euros (80 thousand billion forints) must be invested,
For example, by expanding solar energy capabilities and developing the electricity grid.
The private equity fund mostly looks for capital investment opportunities whose core component is the production and use of renewable energy, as well as projects that can contribute to supporting Hungary's energy independence, so they have an insight into the state of the sector.
Investors are obsessed with solar panels
The National Energy and Climate Plan and the National Energy Strategy 2030 set the target for installed domestic PV capacity to exceed 6,000 MW by 2030 and approach 12,000 MW by 2040.
Current capacities represent only 21% of the 2040 target.
According to the expert, it is important to implement further developments in the region in the near future, where private capital funds that pay special attention to implementing sustainability goals can play an important role.
With the help of solar panel and energy storage projects, we will contribute to the development of 300 MW capacity in Hungary over the next two or three years, with the participation of bank financing. In addition to our ongoing projects, we are also looking for additional solar projects with a connection permit
– the company wrote in its statement. They added that solar PV/PV projects are now the most popular around the world, with financiers estimating that financiers will invest $500 billion in this area in the coming years.
