Hungary to Offer HUF 12 Billion for Geothermal Electricity Investments
The Hungarian Energy Ministry has launched a tender offering HUF 12 billion to support investments in geothermal electricity generation, with funding available between HUF 400 million and HUF 1 billion per project. The initiative aims to cover up to 10% of costs for successful drilling and up to 50% for unsuccessful attempts, as part of a national plan to double Hungary's geothermal output by 2030. Additionally, a separate HUF 19 billion tender for interest-free credit for geothermal projects will be announced in early March.
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The Hungarian Energy Ministry has announced a tender for HUF 12 billion to support investments in geothermal electricity generation. Investors can apply for funding ranging from HUF 400 million to HUF 1 billion per project, which can cover up to 10% of total costs if drilling is successful and as much as 50% if unsuccessful.
Additionally, a separate tender for HUF 19 billion in interest-free credit for geothermal heat and electricity generation will be announced in early March. The national plan aims to double Hungary's geothermal output from 6.4 PJ by 2030.
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