Hungarian geothermal project wins EUR 40m in NER300 EU financing

Dec 27, 2012 - One Hungarian geothermal power project secured some EUR 39.3 million (USD 52.1m) funding from the European Commission (EC) as part of a EUR-1.2-billion package intended for 23 innovative green energy demonstration projects, the EC said last week.

The funds are being allocated under the first call for proposals (CFP) of EC's NER300 funding programme.

The facility, in the south-eastern part of the country, will use geothermal energy from hot dry rock in a compressional stress field. The net capacity of the plant stands at some 8.9 MWe. Its output is expected to be sold to the grid.

(EUR 1 = USD 1.326)

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