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PannErgy drills first successful geothermal well

Alternative energy company PannErgy on Tuesday said it drilled its first successful geothermal well, in the Hungarian city of Szentlőrinc.

The well generates a flow of 1,150 liters per minute at almost 80 degrees Celsius. PannErgy started exploring for geothermal wells in Szentlőrinc in April.

Thermal water could be sufficient in the long term to provide heat for the public buildings in Szentlőrinc as well a for the 900 homes with district heating, said mayor Márk Győrvári.

The investment in Szentlőrinc will cost about HUF 2 billion, PannErgy development director György Hóruczi said.

PannErgy started signing contracts with local councils to establish joint ventures with the aim of exploring for and harnessing geothermal energy in 2007. It now has contracts with dozens of local councils. PannErgy's partner in the projects is Icelandic geothermal energy company Mannvit, earlier called VGK Honnun.

PannErgy's initial goal was to set up 20 geothermal power plans with a combined capacity of at least 60MW. (MTI-ECONEWS)