Hungarian Investment Promotion Agency

The Factory Rescue Program was launched by the Government following the outbreak of the war in Ukraine to enable domestic companies to strengthen their independence from international energy market fluctuations. The investment-focused non-refundable aid could be up to 30 percent in Budapest and up to 45 percent in rural areas. As a result of the planned investments, the beneficiary large companies will reduce their energy consumption and will be able to cover a significant part of their energy consumption independently, thus reducing their energy costs and increasing their competitiveness significantly in the short term.

Managed by HIPA, the Program will provide HUF 150 billion for energy efficiency and renewable energy investments by nearly 140 beneficiary companies, generating approximately HUF 390 billion in investments. In total, the Program has saved around 65,000 jobs in Hungary. Most of the beneficiaries are from the food and metal industries, but a significant number of companies in the automotive and mechanical engineering sectors are also participating in the Program.

– HIPA CEO István Joó highlighted one of the expected results of the Program.

Beneficiary companies could apply for support for renewable energy investments such as solar photovoltaic systems, heat pumps or geothermal energy. Energy efficiency improvements, such as upgrading heating and cooling systems in buildings or improving the energy efficiency of existing production equipment, will contribute to lowering companies' energy bills by more than 100,000 MWh per year.