Hungarian PannErgy gets $4.5 million grant for geothermal project
Geothermal bath at Miskolc, Hungary (source: flickr/ nrares, creative commons)
Alexander Richter
24 Sep 2012
PannErgy subsidiary Miskolci Geotermia wins non-repayable grant of $4.5 million for a joint geothermal project in Kostokaj, Hungary
In a release last week, Hungarian PannErgy has reported that its subsidiary, “Miskolci Geotermia Zrt. has succeeded in winning the second part of the two-phase grant application scheme entitled Economic and Social Renewal in Miskolc in view of the information that is provided at the website of the National Development Agency (NFÜ).
The jointly owned entity of PannErgy and Miskolci Hszolgáltató Kft., Miskolci Geotermia Zrt. has been awarded with a HUF 1 billion ($4.5 million) non-repayable grant in the grant application scheme entitled Economic and Social Renewal in Miskolc under the KEOP4.2.0/B/11-2011-0007 program.
Back in February 2011, in the first phase of the same, two-phase grant application scheme in the KEOP 4.7.0 funding program, Miskolci Geotermia Zrt. won a grant of HUF 316 million ($1.5 million) for the implementation of the exploratory drilling and other preparatory activities to be realized within the framework of the project.
With this second grant won under the KEOP 4.2.0/B11-2011-0007 program, now HUF 1 billion ($4.5 million) has been given for the purpose of the project to be implemented in the surroundings of Kistokaj.
Source: Company release (pdf)
