Hungary is advocating for increased certainty in the geothermal sector to attract more investment as part of the agenda as it takes over the EU Presidency for the next six months. Moreover, Hungary wishes for this agenda to continue to be supported under the EU Council Presidency of Poland which will start by the 1st of January 2025.
The support and plans of Hungary for geothermal was part of the message told by Deputy State Secretary for Energy Transition Viktor Horváth during the “Geothermal Power: The Light Under Your Feet” event held in Brussels, Belgium by the European Geothermal Energy Council (EGEC).
“We want to put this [geothermal] in the Council’s agenda and we hope there will be quite a big push,” Horváth said during the event’s opening session. “Together with Poland, we would like to emphasise this action plan to enhance the geothermal potential that we have… in terms of regulation and financing, we want to streamline geothermal energy production with mining, thermal water management and environmental protection.”
Horváth also expressed support for the creation of a European Geothermal Action Plan to set out a policy that will address challenges related to workforce, skills, financing, and permitting that are holding back the growth of geothermal. This echoes the call made by EGEC for a robust European geothermal policy with the release of the “Geothermal NOW” manifesto a few weeks back.
Hungary itself stands to benefit from developing their own geothermal resources. The country aims to reduce both their greenhouse gas emissions and their dependence on fossil fuel imports. However, geothermal accounts for only about 6.5% of the country’s gross heat production. There is currently only one geothermal power facility in the country in Tura with an installed capacity of 2.7 MWe and 7.0 MWth.
Earlier this year, the Government of Hungary published a national strategy that aims to double geothermal utilization by 2030.
Daniel Mes, from the cabinet of EU Climate Commissioner Wopke Hoekstra, also supported the proposals by Horváth, saying that there are investors that are interested in geothermal but more certainty for the sector is needed. “We need to look at how to invest this business case, how to invest on drilling, push permitting and share best practices on safety and public acceptance. The drilling certainty needs to happen quickly, it’s not an issue of public awareness but permitting.”
Source: EuroNews
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