The forum hosted 15 local authorities, as well as 80 Hungarian and 20 foreign companies from five Nordic countries.

The state secretary said that renewable energy already makes up 15 percent of the country’s energy supply, a figure which the country has originally undertaken to achieve only by 2020. The long-term aim is to raise this rate to 50 percent, he said.

The concept of a central, state-owned energy provider is now outdated, Szabó said. The supply system is to become more flexible with the inclusion of renewable energy sources, such as solar panels, wind turbines and geothermal energy, he said.

The Nordic companies present at the forum can share valuable experiences with the Hungarian partners, he added.

Szabo noted that the Hungarian government already has strategic partnership agreements with six of the companies present at the forum, and cited Danish companies, which employ a total of 14,000 Hungarians in the country, as an example of international cooperation.

Norwegian foreign state secretary Elsbeth Tronstad highlighted the efficient relationships between Hungary and the Nordic countries at the forum.

She said that Norwegian funds had a substantial role in green energy projects in Hungary, having allocated 40 million euros for green projects in the 2007-2013 financial period.

Energy efficiency, renewable energy sources, adaptation to climate change and “green” innovation were funded by the projects, she said.

Republished with permission of Hungary Matters, MTI’s daily newsletter.