You are using an outdated browser. Please upgrade your browser or activate Google Chrome Frame to improve your experience The company will initially build solar facilities at three of its main industrial sites in Hungary MOL Group has announced its intention to enter the solar energy business the company said it will initially construct three PV plants with a combined capacity of 18.3 MW on unused areas at three of its main industrial sites in Hungary are scheduled to come online by the end of 2018 and will meet parts of the energy needs of its own operations They will also provide an opportunity to acquire expertise in the solar technology field and seize future opportunities in the PV market One project will be developed at the company’s petrochemical plant in Tiszaújváros while the other two plants will be installed at its Danube refinery in Százhalombatta All of the solar plants will be connected to the group’s local internal medium voltage distribution networks “The project is a true reflection of our ambition to become one of the leading innovators in the region envisioned in the 2030 strategy,” said the company's COO Sándor Fasimon “At MOL we recognized that solar power will play an important role in the future energy systems and thus we started to build our industrial capabilities by tapping into this dynamically growing business The photovoltaic plants are for us also an excellent way of utilizing the potential of unused areas of our sites while supporting our commitment to decrease the environmental footprint by reducing carbon emissions from our operations.” The company has not said, however, if the projects will be developed under Hungary’s current incentive scheme for solar and renewables MOL's largest shareholder is the Hungarian government MOL Plc and Mol Investment Kft are the second largest shareholders More articles from Emiliano Bellini It could be a bold step by the leading firm of oil and gas sector Oil is playing a significant role in the development around the globe and its a fact that we can’t stop its usage with sudden effect but it is important to minimize it’s negative effects too It is important to take care of environment along with business It would be a pleasure to invite such genius and hardworking professional of Hungary to Oges Please be mindful of our community standards and website in this browser for the next time I comment Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so You may revoke this consent at any time with effect for the future in which case your personal data will be deleted immediately your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled Further information on data privacy can be found in our Data Protection Policy Δdocument.getElementById( "ak_js_2" ).setAttribute( "value" This website uses cookies to anonymously count visitor numbers. View our privacy policy. × The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this Close