EU Funded Lignite generation decarbonization project

The European Commission has announced funding for the phase-out of lignite generation at the Matra power plant in Hungary, as part of its LIFE Environment and Climate Action program with a total investment of €121 million ($145.59 million USD). The goal of the project is to decarbonize the plant by 2030, Hungary’s the last remaining coal-fired plant, via a mix of renewable energy, energy storage and natural gas technologies, and close two associated open-cast lignite mines by the same date. The phase-out would reduce Hungary's greenhouse gas emissions by 14%, or around 6.5 million mt of CO2 per year, the EC said.

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