11 Jan 2013

Hungarian EGS Demonstration project awarded NER300 funding

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The European Commission published a draft decision awarding NER300 funds to the Geothermal South Hungarian Enhanced Geothermal System (EGS) Demonstration Project. The Hungarian project is one of the 23 innovative renewable energy technology projects funded according to the outcome of the first call for proposals under the NER300 programme. The funds were raised from the sale of 200 million allowances from the new entrants’ reserve (NER) of the EU Emissions Trading System.

The Commission informs that “a geothermal power plant, near the village of Ferencszállás in south-eastern Hungary, will use geothermal energy from hot dry rock in a compressional stress field. An Enhanced Geothermal System will involve the drilling of four 4km deep production wells and two re-injection wells, and the hydraulic fracturing of the reservoir under the compressional stress fields. Net capacity of the plant is 8.9 MWe; the electricity is expected to be sold to the electrical grid.”