KS ORKA signs agreement for Hungary geothermal development
KS Orka and DIG have signed a letter of intent to jointly develop geothermal resources in Hungary starting with the expansion of the Tura geothermal project.
The Kaishan Group through subsidiary KS ORKA Renewable Energy Co. Ltd. (KS ORKA) has signed an agreement with the Dunakanyar-Ipoly-Galga menti Területfejlesztési Zrt. (DIG) for joint geothermal development in Hungary. The agreement will start with further development of the Tura power station and will be followed by detailed mapping and development of other potential geothermal assets.
Currently, only less than 10% of the geothermal potential of Hungary is being utilized. The only operational geothermal power plant is in Tura in Perthshire. This is a combined heat and power (CHP) plant with an installed capacity of 3 MW electric and 7 MW thermal. The Turawell plant was connected to the grid in late 2017.
A letter of intent signed between the two parties on 14 November 2022 committed to the further development of the Tura facility to take full advantage of its geothermal resources. This will then be followed by several projects with the aim of increasing the capacity of the Hungarian renewable energy market.
As long-term strategic partners, KS ORKA and DIG are committed to the development of local geothermal energy resources in Hungary and will make a special effort to bring important knowledge and technology, and collaborate with local scientific and professional partners.
Dunakanyar-Ipoly-Galga menti Területfejlesztési Zrt. (DIG) is a company that was established to implement complex domestic and EU development programs involving energy, renewable energy, tourism, sports and leisure, creative industries, and electromobility projects.