geothermal, page-19

Well I guess that it is a good thing that GRK’s Hungary projects are hot water springs close to surface. They are also working with Enex and MOL. Enex are an Icelandic geothermal company with years of experience. MOL is Hungary’s largest Oil and Gas company, the size of Woodside. The EU want to source 20% of their power from renewables and have agreed to reduce emissions by 50% of 1990 levels.

Everyone is looking at the Olympic Dam site, and that is good because it is a prime location, but I really think that Hungary is being under-rated.

Below is an extract from the Enex website:

Enex is a conglomerate of the Icelandic energy sector, owned by a group of Icelandic companies and organizations, which collectively have several decades of experience spanning a wide range of application and conditions, in the development of geothermal energy and hydropower.
Geothermal resources have been utilised for over 70 years in Iceland. Therefore Enex, which is owned by the Icelandic companies who have led the development from the start, has world leading geothermal expertise and experience that it puts to use when designing geothermal solutions.

For further research on Enex, visit their website:

http://www.enex.is/

I don’t know how GRK came into the JV with Enex and MOL, but I am sure glad they did.