Hungary to get first geothermal plant
Turawell Kft, an Islandic-Chinese-Hungarian joint venture company (with Singapore based KS Orka as the majority holder) signed an agreement with Erste bank for the financing of the geothermal power plant project in Hungary. The unit is envisioned as a cogeneration plant with 40 MW of electrical and 100 MWth of thermal output. Estimated cost of the project is €141 million. First phase of the project is a planned to provide 3 MW of electrical and 7 MWth of thermal output..