The development of Tura geothermal power station will accelerate the utilization of geothermal energy; Reliable and renewable geothermal energy can provide an answer to the energy crisis

Budapest, December 11th– Dunakanyar-Ipoly-Galga menti Területfejlesztési Zártkörűen Működő Részvénytársaság（D.I.G.）KS ORKA Renewable Energy Limited, a subsidiary of Kaishan Group in Singapore（KS ORKA）We have signed a letter of intent for cooperation on the secondary utilization of geothermal energy and the joint development of the Tura power plant.The common goal of the two companies is to accelerate the development of geothermal energy utilization in Hungary, which can reduce residents’ dependence on fossil fuels and strengthen the country’s energy sovereignty. The first stage of cooperation is the development of the Tura geothermal power plant, followed by detailed surveying and development of other geothermal assets.

Currently, less than 10% of Hungary’s geothermal potential has been utilized; There is currently only one operational geothermal power plant in Hungary, located in Tura in the county of Perth. Geothermal energy is a renewable energy source that comes from the internal heat of the Earth, which can be used for power generation and to provide heating and cooling for local residents and industrial users. This alternative energy source can provide effective answers to the problems brought about by the energy crisis. In renewable energy, geothermal energy means unlimited and sustainable energy benefits. Its production will not cause pollution to the environment, nor will it worsen the quality of life of residents living near power plants.

To fully utilize Tura’s geothermal resources, significant development and expansion are required, and our partners have committed to this in their letter of intent. According to D I. The letter of intent signed by G. and KS ORKA on November 14, 2022, states that the first project will be implemented with further development of the Tura facility. Subsequently, there will be several other projects in the future aimed at increasing the capacity of Hungary’s renewable energy market and realizing the country’s enormous geothermal potential. As long-term strategic partners, these two companies will be committed to developing local geothermal energy and collaborate in various stages after the Tura project. They will make special efforts to bring important knowledge and technology to Hungary, collaborate with local scientific and professional studios, and provide space for more Hungarian partners.

Regarding Dunakanyar Ipoly Galga mente Ter ü letf ü llezzeti Zrt:
The company was established to implement complex domestic and EU development plans involving energy, renewable energy, tourism, sports and leisure, creative industries, and electric vehicle projects. The development of geothermal energy played a prominent role in the projects launched in 2019, in collaboration with large companies operating in this field around the world. Experts from a domestic university and a foreign university also participated in the project.
Kaishan Group is a fast growing independent power producer and geothermal module plant equipment supplier, with more than 400MW geothermal asset portfolio under operation and/or development in Indonesia, the United States, Hungary, Türkiye and Kenya. Turawell Kft, a member company of Kaishan Group, is the only existing geothermal independent power generation company in Hungary.