Hungarian Geothermal Cluster develops strategy to tap geothermal potential
The Hungarian Geothermal Cluster brings together experts from a wide spectrum to develop strategies to utilize the untapped geothermal potential of Hungary.
During the inaugural meeting of the Hungarian Geothermal Cluster, Biró Marcell, the president of the Regulatory Authority for Regulatory Activities (SZTFH) announced a five-point strategy to tap the geothermal resources of Hungary.
The Hungarian Geothermal Cluster brings together around twenty professional organizations including experts from the broadest spectrum of the profession. It was created with the recognition that knowledge sharing in the detailed issues affecting regulation was necessary to encourage the use of geothermal energy in Hungary.
The president specifically emphasized that the wide range of participants is meant to represent all domestic stakeholders from the professional, scientific, investor and construction side, so their task is to create the foundations of dialogue among domestic economic actors as well.
The president outlined in five points the strategy that is needed to utilize Hungary’s untapped geothermal potential:
- Supportive state regulation that provides a simpler legal framework and procedure free of unnecessary bureaucracy;
- A predictable investor environment that makes the return costs plannable and predictable for investors;
- Responsible management of state data assets to help ensure all essential information for investors;
- Efficient use of extracted energy and development of cascade system to enable the connection of facilities with different needs;
- Formation of partnerships and networks between various state, local, and private stakeholders.
Hungary has been described as having good geothermal resources. The number of geothermal investments in the country in the past 12 years is more than four times higher than the previous period. These investments have yielded projects such as the geothermal heating network in Szeged, the WeHEAT system that harnesses geothermal heat from an abandoned oil well, and a joint geothermal development that aims to expand the capacity of the Tura power station.
Biró Marcell also spoke about the fact that the SZTFH launched a series of eight national events in relation to geothermal energy, during which the Authority’s experts will present the benefits of the widest possible use of geothermal energy and the new regulatory framework.