Plans announced for further geothermal power and heating development in Hungary

Turawell geothermal plant, Hungary (source: KS Orka)

Alexander Richter 7 Jun 2018

Chinese-Icelandic KS Orka has announced plans for further geothermal heating and power development in Hungary. The company plans to develop 40 MW in power generation capacity and 100 MW in heating capacity in this next phase of development for the company.

Announced today, KS ORKA will continue with geothermal development in Hungary, planning with additional development of 40 MW in geothermal power and 100 MWth in geothermal heating capacity. This development is not far from the company’s first plant built near Budapest/ Hungary.

This was announced during the official visit of the Foreign Minister of Hungary, Mr Péter Szijjártó, to Shanghai this week, by KS ORKA´s majority shareholder Kaishan. The next phase in KS ORKA´s development plan is estimated to give 40 MW in power and approx. 100 MWth in heating capacity. The cost of the next phase is estimated to be EUR 140m.

KS ORKA is a Chinese – Icelandic joint venture and has already built the first geothermal power plant in Hungary that began operation in November 2017. The power plant is a combined heat and power plant producing 3 MW power and 7 MWth heating capacity.

Source: Company announcement