Japanese manufacturer signs geothermal heat supply contract with PannErgy in Hungary
As reported by geothermal developer and operator PannErgy Plc, that its subsidiary Kuala Ltd. has signed a 10-year heat supply agreement with Japanese-owned GS Yuasa Hungary Ltd. Kuala Ltd as the heat energy producer will supply heat energy to a plant to be build by GS Yuasa Hungary Ltd at the Southern Industrial Park of Miskolc.
Yuasa Hungary Ltd GS Yuasa Corporation is a Japanese company that makes lead acid automobile and motorcycle batteries. It also develops and produces advanced battery technology for various aerospace and defense applications.
For 5 years now, the Geothermal Project of Miskolc has been seamlessly supplying geothermal energy to MIH? Heat Distribution Ltd, which provides district heating services to Miskolc City of County Rank. In addition to the primary heat consumer, the capacity of the geothermal system allows the supply of the environmentally friendly heat energy to further secondary consumers. In accordance with the agreement signed with GS Yuasa Hungary Ltd , the geothermal heat supply is expected to start on this year. PannErgy Group has undertaken to invest in the pipe-system necessary for the heat supply until the installation of the isolation heat exchanger in the plant’s thermal center. The geothermal heat energy consumption is expected to be around 3000 GJ per year.
“The automotive industry accounts for more than 5% of the domestic GDP, the largest suppliers of the automobile industry are present in Hungary, and they are now joined by the Japanese GS Yuasa with the goal to manufacture lithium-ion batteries in Miskolc to be used in e-mobility. We are proud that eco-friendly, geothermal energy has teamed up with e-mobility as a specific energy-oriented solution in Miskolc, with the potential success of the cooperation placed in the hands of GS Yuasa and PannErgy Group. This agreement will give way to the creation of such a sustainable, environmentally friendly, energy-related process that is matchless all over the world with respect to the fact that batteries will be manufactured partly with the use of geothermal heat” – declared Balazs Bokorovics, Chairman of PannErgy Plc’s Board of Directors.
Source: Company release