ALTEO started the second half of the year with doubled solar power plant capacities

ALTEO has commissioned a solar farm in the outskirts of Tereske which started its trial operation in August. The facility, that was built with ALTEO’s own investment and construction in just three quarters of a year, has an output of nearly 20MWAC, doubling the solar power plant capacity of ALTEO, a company listed in the premium category of the Budapest Stock Exchange (BSE).

ALTEO’s new solar power plant will be capable of generating 31 GWh of electricity per year, equivalent to the annual electricity consumption of more than 10,000 households. The company acquired EDELYN SOLAR Ltd, which owned the project to develop the solar power plant, back in 2022. ALTEO completed the project in the village of Tereske in Nógrád County, in the space of nine months, with its own investment and construction exceeding EUR 17 million.

The importance of the investment is demonstrated by the fact that this development means a twofold increase of ALTEO’s own solar power plant portfolio which will significantly increase the performance of the company’s renewable energy generation business. Even more significant is the integration of the Tereske solar power plant into ALTEO’s Renewable Regulation Centre. This will enable the use of weather-dependent solar power in the provision of resilience services to the national electricity grid.