Alteo Nyrt of Hungary has released its new business strategy for 2025-2030 period
It targets expansion in the Central European region and aims to grow its renewables capacity to 2 GW
The company plans to invest up to €2.5 billion by 2030 to achieve this aim
Hungary-based energy producer Alteo Nyrt has announced its business strategy for 2025-2030 under which it targets a green energy portfolio of 1.5 GW to 2 GW by the end of 2030, with a focus on expanding its presence in the Central European region.
It seeks to especially expand in Slovakia, Croatia, and Serbia, while exploring Romania, Czech Republic, and Poland, among other countries. Alteo is backed by Huangarian multinational oil and gas company MOL Nyrt. The focus of its expansion will be in regional markets where its majority owners have a strong presence and market connections.
Solar PV is among the renewable energy technologies in its 5-year plan. It also emphasizes circular economy as it aims to build competencies and activities covering the entire waste management value chain and integrate new technologies, such as used batteries and solar panels.
To achieve this goal, it aims to invest up to €2.0 to €2.5 billion with an EBITDA target of €300 million by 2030. Alteo claims to have significantly exceeded the objectives set out in its 2024-2026 business strategy.
“Our new vision is for ALTEO to become a regional sustainability champion by 2030, meaning that we will export our efforts serving the spread of energy production and circular economy, as well as our market-leading solutions serving these, to the countries of the region, as a result of which, by the end of the strategic cycle, our company’s name will be intertwined with sustainability at the regional level as well,” said CEO of ALTEO and Chairman of the Board of Directors, Attila Chikán Jr.
According to the company’s Q3 2024 unaudited financial results, Alteo’s total renewable energy based electricity generation capacity stood at over 110 MW in October 2024.
