Solar panels are becoming an increasingly popular energy source.Continue reading
One of Hungary’s largest agricultural groups, UBM, has built a solar power plant in Nyírmeggyes (eastern Hungary) with an investment of around HUF 1.8 billion (EUR 4.5 million). The 4 megawatt (MW) solar power plant will produce 5,880 megawatt hours (MWh) of electricity annually.
64 percent of the electricity needs of the feed mills and other plants operated by UBM Feed Zrt. will be provided from renewable energy sources, said the company. The statement noted that UBM started the preparation of the 4 MW solar power plant investment in April last year.
The aim of the investment is to significantly reduce UBM’s dependence on fossil fuels. The new solar power plant will enable UBM to generate 5,880 MWh of electricity from renewable energy sources per year,
which is equivalent to the annual consumption by 1,300-1,500 families, and will reduce the company’s annual carbon dioxide emissions by up to 2,400 tons.
The investment, with a total budget of HUF 1.8 billion, was carried out with 20 percent self-financing and 45 percent state support under the Factory Rescue Program, and was complemented by a green loan scheme with the support of Eximbank and MBH Bank. UBM calculated the return on investment at 7-14 years.
Founded in 1996, UBM is one of Hungary’s largest agricultural groups, the country’s leading feed producer, and one of the largest feed materials retailers.
UBM Group operates six feed mills in Hungary, Slovakia, and Romania and exports to 15 countries, accounting for more than half of its turnover.
In the financial year from July 1, 2023, to June 30, 2024, the group achieved consolidated sales of HUF 198.66 billion (EUR 498 million). UBM Holding Plc. is the only agribusiness company listed on the Budapest Stock Exchange (BSE).
UBM Deputy CEO Balázs Janositz said in the statement that the company announced its three-year growth strategy in 2023. In accordance with this, the group’s annual feed production volume of 0.6 million tons will be increased to one million, while the annual feed materials trading volume of 1.5 million tons will be increased to two million. He added that he was confident that soon all the energy needed to generate all the feed they produce will come from renewable sources.
Via MTI, Featured image: Pexels