Geothermal is the future

The ministers of the Member States will hold their first informal meeting of the Hungarian Presidency in Budapest on 16-17 July 2024. On the opening day of the event, delegations visited the drilling of a geothermal well in Tököl, which reflects the policy priorities.

A key condition for a successful energy transition is that, in addition to the rapidly expanding, weather-dependent renewables, substantial progress is made in the use of geothermal energy, which is currently still under-utilised, both at EU and national level.

Attila Steiner, State Secretary for Energy and Climate Policy, opening the visit, said: "The more efficient use of alternative energy sources is essential for the creation of energy sovereignty in Europe and the Member States, for the secure and affordable supply of energy to consumers, and for meeting climate commitments. According to EU strategy papers, the share of solar and geothermal energy in the energy mix should be at least tripled to achieve our common energy and climate objectives. For many years, Hungary has been among the top five European countries in the direct use of geothermal energy, for which the entire Carpathian Basin offers very favourable conditions. We expect the new utilizations planned in Hungary to replace 1-1.2 billion cubic metres of natural gas by 2035, thus substantially reducing our import exposure."

Corporate change of mindset also helps the transition

Vonas Florian, head of the Geothermal Business Unit at Bayer Construct, which provided the venue for the visit, said:

"We see geothermal as a strategic sector: we currently have seven ongoing projects for power generation and heat. This year, we also acquired a modern drilling rig with a 400-tonne hookload capacity and a fleet of equipment to provide service support for deep drilling. In the future, our geothermal business will be able to make a significant contribution to meeting national energy strategy targets, increasing renewable energy production and reducing carbon emissions."

In addition to the study tour, the Member States' ministers will also discuss possible ways of promoting the further penetration of geothermal energy and the means of support as the first item on their agenda at today's plenary session.