Interview with Mihály Lantos, CEO, EXTOR Energy

13 May Interview with Mihály Lantos, CEO, EXTOR Energy

Can you briefly share your career background and what you are most proud of since leading the company?

I have been active in the Hungarian energy market for nearly 20 years, focusing on renewables since 2016 and continuously developing my market insight in this field. EXTOR Energy Zrt traces its roots to EXTOR Elektronikai Kft., founded in 2000 as a 100% Hungarian-owned company specializing in uninterrupted electricity supply. EXTOR Energy, as part of the broader EXTOR Group, capitalized on this engineering foundation to become a trusted partner in industrial-scale renewable energy projects. Our core focus is the development, design and construction of renewable energy systems for industrial applications. In a short time, we have become a leading player in Hungary’s energy market. We have implemented a total of 400 megawatt-peak of solar projects and currently operate a 1,000 megawatt-peak photovoltaic portfolio with a team of 120 professionals.

Can you provide an overview of Hungary’s energy sector?

Hungary’s wind energy capacity stands at 329 megawatts with plans to at least triple it by 2030. However, solar energy remains the dominant renewable source, with over 7,600 megawatts installed, 4,000 megawatts of which is industrial-scale. EXTOR Energy Zrt has implemented 10% of this capacity and operates 25%. Hungary is rapidly accelerating its renewable energy transition, supported by strategic government initiatives aimed at energy independence, sustainability and long-term resilience.  Programs like KÁT and METÁR — with their state-backed feed-in tariffs — have provided predictability for projects, enhanced bankability and encouraged Hungarian companies to expand in the field of renewable energy, while new grid strategies promote decentralized generation and hybrid technologies. Though regulatory challenges remain, EXTOR Energy Zrt, as a board member of the Hungarian Renewable Energy Association (Magyar Megújuló Energia Szövetség – MMESZ), sees growing cooperation between regulators and the industry.

The aim of MMESZ is to support the development of a sustainable energy system in Hungary by promoting the increased use of renewable energy sources. A key example is the recently announced Jedlik Ányos Energy Program, which incorporates the association’s technical proposals. However, the government acknowledges that natural gas and nuclear energy will remain vital in the energy mix. Hungary’s National Energy and Climate Plan aligns with the EuropeU’s 2030 climate goals, aiming to cut emissions, expand renewables, enhance energy efficiency and strengthen supply security. It outlines measures to support sustainable energy and the green transition.

Many foreign investors are eager to invest in Hungary, with long-term commitments reflecting the sector’s strength and potential. Competitive construction costs further encourage them to choose Hungarian companies for project implementation.

Can you provide details on the company’s structure, size, revenue growth and key projects?

EXTOR Holding comprises five affiliate companies, all operating in the energy sector and supporting each other as needed. EXTOR Energy leads renewable projects and operates through three divisions: the renewable directorate (managing solar and storage projects), the grid directorate (handling medium and high-voltage connections) and the operations directorate (Currently, EXTOR Energy Operation Ltd operates as a separate legal entity owned 100% by EXTOR Energy Kft.)

Our team comprises 50 dedicated professionals at EXTOR Energy and in total, 120 professionals work across the holding, the majority being experienced engineers specialized in complex energy systems. We rely on subcontractors for onsite construction. In recent years, our renewable energy-related revenue has exceeded $27 million. In the coming years, we aim to double our revenue by participating in key projects.

Our largest project is Hungary’s biggest photovoltaic park, generating 372 gigawatt hours annually — possibly the largest in the region. We are especially proud to have been entrusted with its long-term operation, which reflects our clients’ confidence in our expertise. Another major initiative is a 49.9 megawatt energy storage facility (99.8 megawatt hours capacity) for ALTEO Group. Additionally, we are constructing two solar parks for Uniper, located in Tét and Dunaföldvár, with a combined capacity of 151 megawatt-peak,further strengthening Hungary’s energy mix.

National and international partnerships are crucial for EXTOR’s growth. How does the company approach foreign investors and partners?

All investments, whether foreign or domestic, drive sector modernization. EXTOR was designed for international expansion, with a team of young, multilingual engineers building regional connections. With extensive experience and strong references in Hungary, foreign investors who collaborated with us locally now actively request our project management and engineering services for their international ventures. We plan to enter international markets this year or next.

What are EXTOR Energy’s plans for international expansion and do you export energy to Europe or only within Hungary?

With many projects underway in Hungary and the region, our focus remains on implementation and operations rather than energy exports. We are preparing to expand into Croatia and Romania, both geographically close and within our existing coverage. Our proven business model combines in-house engineering and project oversight with on-site execution by trusted local partners, ensuring cost-efficiency and scalability. We plan to apply this same approach internationally, and initial feedback has been very positive.

What is EXTOR Energy’s vision for the next 5-10 years and what is the expected growth trajectory?

Our climate plan aligns with the 2030 targets and we expect continued project growth in the coming years. The rise of photovoltaic systems drives demand for energy storage, a key area for our expansion. Hungary’s 440 megawatt utility energy storage support program has been a major market incentive and will likely continue growing until 2030.

Additionally, as renewable energy expands, the electricity grid must be maintained and upgraded. Our grid connection directorate aims to play a key role in these developments and potential greenfield investments. We also anticipate long-term maintenance contracts for the storage systems we implement. With photovoltaic parks designed for a 25-year lifespan, we expect ongoing maintenance responsibilities in this sector as well. We are exploring digitization to enhance competitiveness in implementation and operations. In both photovoltaic and storage facilities, efficiency will increasingly rely on digital tools such as smart meters, advanced analytics and AI-powered monitoring to maximize performance, reliability and ROI.

What is your final message to the readers of USA Today?

Our company is firmly committed to promoting renewable energy solutions both in Hungary and internationally. Our aim is to contribute to the creation of a sustainable energy future through innovative projects and professional execution. We are proud to have collaborated with the member companies of the MMESZ, led by Dr. Csaba Novák — including key players in the Hungarian energy sector such as MVM, MOL, E.ON, OPUSZ, MET and ALTEO — who are working together to build a greener and more secure energy future.

We welcome readers and potential partners to connect with us here in Hungary and discover how EXTOR Energy can support their transition to a sustainable and resilient energy future.