Geoelec -
Article - 29/11/2013

GEOELEC Project Completed

Mannvit is an official participant in the GEOELEC project, which is supported by the European Commission’s Intelligent Energy Europe Initiative. The GEOELEC project’s official kick-off was in June 2011 and the project is coming to an endthis December. The GEOELEC project is led by the EGEC (European Geothermal Energy Council) in cooperation with nine European companies from eight countries.


The principle goals of the project are: to introduce geothermal energy and its utilization in Europe with an emphasis on EGS (Enhanced Geothermal System) technology, lower non-technical barriers for policy makers, energy industries and investors, and set a growth plan for geothermal energy utilization.

A number of articles and reports have been issued under the project to reach these goals. Mannvit has participated in several of them and led the development of the reports on Cost Estimation for the financial software, Environmental study on geothermal power, Geothermal reporting code review, in addition to the Factsheet on regulation and public acceptance. Furthermore, Mannvit participated in the creation of the Methodology for Resource assessment, provided the investment guide with Case Study from Iceland, training materials and presentations for training courses and, in general, information on geothermal energy and the geothermal industry where requested.


The GEOELEC project results were presented in a series of promotion events in Europe of which Mannvit hosted one event in Budapest, Hungary. The event was successful with nearly 50 participants, which demonstrates the increased interest in geothermal development in Hungary. The opening speech by Mr. Ferenc Hizó, Deputy Minister of Climate Policy and Key Public Services was well received.


Key results of the GEOELEC project were introduced, such as Environmental issues and public acceptance, the WEB-GIS developed under the project, Grid Access and Geothermal Reporting Code discussion topics in addition to investment costs, financial viability software and licensing background. Participants to the Promotion Event were from all target groups of the GEOELEC project e.g., the Ministry of National Development, Naki, MFGI, MKB Bank, OTP Bank, EU Fire, Porcio, GeoEx, ELTE, Aurora Energy, Mining Support, MTA Institute of Energy and the University of Miskolc. The discussions were dynamic and informative and will hopefully spur further discussions within the geothermal industry in Hungary on various important topics.


The participation in this project has been interesting for Mannvit. The deliverables of the project are believed to be good introductory information on the geothermal industry with emphasis on Europe and power production. The material is both suited for newcomers and established colleagues within the geothermal industry.


For more information and the finished deliverables of the project please visit the project web site at