On May 27, Hungary inaugurated the country's largest solar power plant near the southwestern city of Kaposvar, which was built by CMC, a key subsidiary of Genertec in the sector of engineering services. The ceremony was attended by Hungary's Minister for Innovation and Technology Laszlo Palkovics, the Mayor of Kaposvar Karoly Szita on site, and CMC Chairman via video hook-up.
As a European Union (EU) member state, Hungary joined the European Green Deal in 2019, stating that the economy should be carbon-neutral by 2050. The opening of the Kaposvar solar power plant is crucial to reaching this goal, as the production of electricity in Hungary should fully come from clean sources by 2030. The plant, worth around 100 million euros (122 million U.S. dollars), is expected to produce 130 million kilowatt-hours of electricity and help Hungary to reduce its carbon-dioxide emissions by about 120,000 tons each year.
In line with global and Chinese national policy, Genertec fully embraces the pursuit of a carbon-neutral economy and the transition to green energy. Thus, Genertec will prioritize renewable energy and energy-saving management in the investment portfolio. It is committed to being a total solution provider and value-added investor.