ALTEO has been through a busy period, as the company achieved two milestones in sustainability over the past few months: the second Sustainability Report has been published and a battery energy storage facility has started its test run, which is unique in the region.
At the end of summer, a battery energy storage facility that is unique not only in Hungary but also in Central and Eastern Europe has been completed. ALTEO received HUF 500 million at a tender of the National Research and Development and Innovation Office which was allocated for implementation, testing and integration of the facility. The project that supports the Hungarian electricity system, and focuses on the planning of utilization of weather-dependent energy sources has a total cost of HUF 1.1 billion.
The recently completed battery energy storage facility has been the first phase of the whole project, after placing it in service, the testing period will start. In the further stages of the R & D project, the development of the existing contolling center, the establishment of an electricity-based heat production facility, and the higher market integration of weather-dependent production units will also take place.
Furthermore, ALTEO published the second Sustainability Report as well, which displays ALTEO’s accomplishments in the name of sustainable corporate governance. In fact, ALTEO decided to publish its first Sustainability Report last year. The 2016’s report was so successful in the industry that it won Deloitte’s Green Frog Award.
The company’s current report shows that:
- The number of our employees grew by nearly 15% in 2017
- 23% of ALTEO’s installed electrical capacity is supplied from renewable power sources
- ALTEO provided a total of 5,706 hours of training, more than 25 hours per employee on average
- In 2017 95% of ALTEO’s suppliers were Hungarian enterprises
The practical aspects of responsible corporate governance and the dedication of ALTEO to sustainability got a lot of attention at the 56th Itinerant Conference of Economists as well, where Attila Chikán jr. shared his broad experiences with the audience.