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11-01-2013 - Climate action: Commission awards EUR 1.2 billion to kick-start 23 innovative renewable energy projects

 

At the end of 2012 The European Commission awarded over €1.2 billion funding to 23 highly innovative renewable energy demonstration projects (incl. one Enhanced Geothermal System (EGS) Demonstration Project)  under the first call for proposals for the so-called NER300 funding programme.

Projects will be co-financed with revenues obtained from the sale of 200 million emission allowances from the new entrants' reserve (NER) of the EU Emissions Trading System.

The projects cover a wide range of renewable technologies - bioenergy (including advanced biofuels), concentrated solar power, geothermal power, wind, ocean energy and distributed renewable management (smart grids).

For all the geothermal branch high importance has EGS pilot Project: Hungary Geothermal South Hungarian Enhanced Geothermal System (EGS) Demonstration Project (http://europa.eu/rapid/press-release_MEMO-12-999_en.htm).

A geothermal power plant, near the village of Ferencszállás in south-eastern Hungary, will use geothermal energy from hot dry rock in a compressional stress field. An Enhanced Geothermal System will involve the drilling of four 4km deep production wells and two re-injection wells, and the hydraulic fracturing of the reservoir under the compressional stress fields. Net capacity of the plant is 8.9 MWe; the electricity is expected to be sold to the electrical grid.