Hungarian technology and telecommunications group 4iG is establishing a new energy business and a dedicated holding company to oversee its development, expanding its presence in critical infrastructure, the company said on Thursday.
4iG has signed a letter of intent with US-based X-Energy on the potential regional deployment of small modular nuclear reactors (SMRs), reached a preliminary agreement to acquire a wind farm in Poland and is examining opportunities to develop wind and energy storage capacity in North Macedonia and Montenegro.
The company said it plans to involve long-term international investment and technology partners in building its energy portfolio. Its strategy covers the acquisition of operating power-generation assets, development of new capacity and the regional introduction of next-generation energy technologies.
4iG said its existing core activities are largely concentrated in energy-intensive sectors, making the development and acquisition of its own power-generation capacity strategically relevant. Such assets could create synergies with the group’s existing businesses, reduce its long-term exposure to energy costs and make its energy supply more predictable.
As a first step towards strengthening long-term energy security and reducing energy dependence in Central and Eastern Europe and the Western Balkans, 4iG signed the letter of intent with X-Energy covering the regional deployment of SMR technology.
The group has also signed a preliminary cooperation agreement to acquire a medium-sized, turnkey wind farm in Poland. Due diligence on the project is currently under way.
In North Macedonia, 4iG is assessing the development of wind power and related energy storage capacity. The company is currently building a 5G mobile network in the country and plans to launch telecommunications services there in 2027.
4iG is also examining opportunities to acquire additional power-generation assets in Montenegro in cooperation with partners. Its existing business presence in the Western Balkans could provide a regional platform for further expansion of its energy operations, the company said.
Separately, 4iG reported on the Budapest Stock Exchange website that its wholly owned subsidiary, 4iG Befektetési Kft, will submit a binding offer to acquire investment units in the iG Tech Energy Private Equity Fund.
The transaction would be the first step in a multi-stage deal that could ultimately give 4iG direct ownership of a project company held by the fund. The company owns a 49 per cent stake in a portfolio of wind farms operating at five sites in northwestern Hungary, with a combined capacity of 158 MW.
The portfolio accounts for almost half of Hungary’s installed wind power capacity, according to 4iG.
4iG employs around 11,000 people.
The company is listed in the premium category of the Budapest Stock Exchange. Its shares rose 2.41 per cent to 1,618 forints on Thursday morning, while the stock has traded between 1,430 and 4,965 forints over the past year.
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