Reliable, renewable, geothermal energy can provide an answer to the energy crisis. Budapest, 17/01/23 – The Dunakanyar-Ipoly-Galga menti Területfejlesztési Zártkörűen Működő Részvénytársaság (D.I.G.) and the Singaporean KS ORKA Renewables Pte., Ltd (KS ORKA), a subsidiary of the Kaishan Group, signed a letter of intent on the secondary use of geothermal energy and the joint development of the Tura power plant. The joint goal of the two companies is to speed up the development of the use of geothermal energy in Hungary, which can reduce the population’s dependence on gas, and strengthen the country’s energy sovereignty.
The first stage of the co-operation is the development of the Tura power plant, which is followed by the detailed mapping and exploitation of additional geothermally significant areas.
Currently, less than 10 percent of Hungary’s geothermal potential is utilized, which can be processed by only one power plant capable of producing electricity in Hungary – located in Tura, Pest County. Geothermal energy is a renewable energy derived from the Earth’s internal heat, which can be used to produce electricity or even district heating and cooling, thus providing valid answers to the questions raised by the energy crisis. Among renewable energies, geothermal energy means unlimited and continuous energy gains, its production does not cause pollution of the environment or deterioration of the quality of life of the population living in the vicinity of the power plants.
The full utilization of Tura’s geothermal resources requires significant developments and expansions, which the partners undertook in a letter of intent. According to the letter of intent signed by D.I.G. and KS ORKA on November 14, 2022, the first project will be implemented with the further development of the Tura facility, which will be followed by several other projects in the future with the aim of increasing the volume of the Hungarian renewable energy market, releasing the country’s huge geothermal potential. As long-term, strategic partners, the companies will work for the development of local geothermal energy, and in the phases following the Tura project, they will specifically strive to bring significant knowledge to Hungary along with technology, cooperate with local scientific and professional workshops, and provide space for additional Hungarian partners.
About Dunakanyar-Ipoly-Galga mente Területfejlesztési Zrt.:
The company was created to implement complex domestic and EU development programs, various energy, renewable energy, tourism, sports and leisure, creative industry, and e-mobility projects. Among the projects launched in 2019, the development of geothermal energy plays a prominent role, which is carried out jointly with the world’s largest companies operating in this field. Specialists from a domestic and a foreign university are also participating in the project.
Kaishan Group is rapid-growing independent power producer and geothermal modular plant equipment supplier, with a portfolio of geothermal assets of more than 400MW in operation and/or development in Indonesia, US, Hungary, Turkey and Kenya. Turawell Kft., a member company of Kaishan Group, is the only existing geotheraml IPP in Hungary.
