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PannErgy opens Gyor geothermal project in Hungary

, Investors

PannErgy has opened Győr geothermal project in the north eastern Hungary, built at a cost of HUF 10.2bn ($34m).

As per the power supply agreement signed between PannErgy and Gyor -Szol, about 60% of the output will be supplied to the Audi plant in Gyor while remaining power will be supplied to 24 266 households and 1 046 other customers.

The project includes two production wells and two reinjection wells, the Heat Distribution Center of Bony, about 17km of heat transfer system.

Gyor geothermal project had received €20.3m loan from the Hungarian Export-Import Bank, non-refundable finance from European Union while part of the fund was funded by company’s own resources.

First well at the project was drilled by DD Energy and Arrabona Geothermal at the beginning of 2014.

The project is expected to help in cutting down 67 000t of green house gases per year and natural gas use by 35 million tonnes as part of country’s National Energy Strategy.

PannErgy acting chief executive officer Dénes Gyimóthy said: “Not only a pleasure,but also satisfaction for us that after one and a half years of hard work, we have successfully carried out Hungary’s second largest geothermal heat utilization system.”

Gyor-Moson-Sopron County Council chairman Zoltán Németh said: “There is no doubt, that the best green energy is the geothermal energy, because the produced heat is constant, and to provide energy security, it does not require operation of balancing power plants, which use fossil energy.

“For the perspective of the air quality of the region, the start of the heat production without any pollution, is like if from now on, all cars of the City of Gyor would transport without fuel consumption and with no gas emissions.

“I am proud to announce, that the largest climate protection investment has started its operations in the region, which contributes to the achievement of Hungary’s ability to meet its proportion of 14.65% of renewable energy by 2020.”

source: geothermal.energy-business-review.com

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