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PannErgy unit wins HUF 316 mln state grant

PannErgy Geothermal Power Plants said its project company Miskolci Geotermia won a HUF 316 million state grant.

PannErgy's unit won the grant in the first part of a two-part tender to meet demand for heat with renewable energy sources. PannErgy will apply for a grant in the second part of the tender, which supports the drilling of wells and installation of equipment, in the first half of 2011. The company could win up to HUF 1 billion in the second part of the tender.