Capital Corp Merchant Banking extends USD 193m for Hungarian geothermal project

Oct 29, 2012 - US-based Capital Corp Merchant Banking said Saturday it had provided some USD 193 million (EUR 149m) in funding to an unnamed Hungarian company which would build and run the country’s first geothermal power plant.

The new power station will be built using a drilling method called complex energy extraction from geo-plutonic resources (CEEG).

The innovative method is designed to produce low-cost energy from the extraction of dry, high temperature geo-plutonic heat through the use of thermal heat exchangers. The technology implies inclined or semi-horizontal deep drilling of highly efficient exchangers BZ-6 in a geothermal aquifer.

(USD 1 = EUR 0.774)

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