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Hungary's EU-FIRE is teaming up with Icelandic peer Mannvit to build a €116 mln geothermal power plant near Battonya in southeast Hungary, government and company officials announced yesterday.
The project, carried out with the cooperation of the National Development Ministry and the National Economy Ministry, is supported with a €39.3 mln European Union grant. The power plant, to be completed by the end of 2018, will generate an annual 12MW of electricity and 60MW of heat energy. EU-FIRE holds 95% of the project company for the plant. Mannvit owns 5%.