/LONDON, November 29, 2023, 10:00 GMT, RENEWABLE MARKET WATCHTM/ This is the first-ever made, thorough and detailed market report, which offers an incisive and reliable overview of the wind energy sector of Hungary for the next long-term period 2023 ÷ 2032. The Hungarian wind power market is underdeveloped and creates opportunities for the entrance of new investors. This study is intended to provide the reader with an overview of the economics and regulation of the industry.
With a land area of 93,028 km2, Hungary is a landlocked country in Central Europe. It measures about 250 km from north to south and 524 km from east to west. It has 2,106 km of boundaries, shared with Austria to the west, Serbia, Croatia and Slovenia to the south and southwest, Romania to the southeast, Ukraine to the northeast, and Slovakia to the north. The country’s landscape is mostly flat. The population was 9.82 million, and the current gross domestic product (GDP) was $176.3 billion as of 2021. According to the Hungarian Wind Energy Association, Hungary can generate up to 6,000 MW of wind energy annually to cover nearly 20% of its electricity needs.
Under Hungary’s National Energy Strategy up until 2030, Hungary will aim at ensuring the long-term security of energy supplies and increasing the share of renewable sources in its electricity generation mix, but also notes that fossil fuels, mainly natural gas, will be necessary for future generations. Developing further nuclear energy capabilities was also outlined as an option to cover demand. The National Energy Strategy stipulates that the construction of new power plants will be required to replace those that will become obsolete in the future. The country’s main strategy to meet the growing need for power is to reduce energy dependency by increasing energy efficiency, increasing renewable resources, natural gas, nuclear sources, and connecting to the European power infrastructure.
Hungary has been a full member of the Association of Issuing Bodies (AIB) since 2021 and joined the European Energy Certificate System effective on February 1, 2022. Full Membership in the Association of Issuing Bodies (AIB) enables participation of Hungary in the free cross-border trade of guarantees of origin (GOs) of renewable energy producers.
The inevitable wind energy expansion in the CEE & SEE countries creates some challenges and risks: From the connection point of view, there are grid connection constraints due to the aged or overloaded electricity grid network that will need more detailed and precise planning and management. From the investment point of view, developers will want to be secured against frequent changes in renewable energy regulatory framework, feed-in tariff prices, and that license bid prices (in some countries) do not become uncompetitive when the competition in the sector emerges.
In the last few years, Hungary has been the focus of the investors’ interest. The political stability and predictability due to the NATO membership and EU accession, the stable economic perspective and the growing credit rating of the country and its institutions were only some of the elements attracting the investors’ interest. External investors have been attracted by rapidly developing national industry, highly skilled workforce and significant new market.
The development of wind power plants in Hungary started with very moderate steps in the early 2000s but progressed at a fast pace between 2003 and 2011. At the end of 2022, the cumulative installed wind power capacity in Hungary is 330 MW, representing 3 % of the country's total installed power generation capacity. The report provides a complete picture of the market situation, dynamics, current issues and prospects. You will find more than 120 pages of valuable information in this unique in-depth analysis of the Hungarian wind market and will receive an overview of how COVID-19 (Coronavirus) recovery and the military conflict in Ukraine will impact it. With comprehensive market data, this report brings clear and concise insights to help investors in their decision-making process. As 2022 was a challenging year for the wind energy industry, the time for making the right decisions during 2023 and the next years is limited. A fast-changing market environment requires relevant and accurate information. Reasons to buy this market report include:
- Wind resource potential in Hungary
- Overview of the Hungarian political and economic environment
- Wind resource potential in Hungary
- Financial Model and Analysis of 50 MW Wind Power Plant investment in Hungary (IRR, WACC, Payback, NPV, Cash Flow, etc.)
- Over 55 charts, tables and maps
- Overview of Hungarian wind market development 2012 ÷ 2032
- Grid-connected wind installations
- Future market trends and planned wind projects for 2022 ÷ 2032
- Market prices of fully permitted and operational wind projects
- Bulgarian legal and energy regulatory framework for renewable projects
- Key companies and competitive landscape in the wind sector
- Review of most relevant financing and supporting incentives
- SWOT Analysis (detailed in 5 pages)
This report is essential reading for you or anyone interested in the Hungarian Wind Power Market, including investment trends overview, competitive landscape, and forecasting of how investment volume in this market will develop over the next ten years. This report provides a comprehensive analysis of existing mechanisms supporting the use of wind energy in this country and highlights the challenges and opportunities associated with their development.
The author of this report, Renewable Market Watch™, has distinguished itself throughout the years by publishing unbiased reports on the development of global renewable energy markets. For your convenience, we offer opportunities for orders with customized report content.
For more information and answers to your questions about the Hungary Wind Energy market and related content, you may read here: Hungary Wind Power Market Outlook 2023÷2032
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