On 12 December 2013, PannErgy Plc’s subsidiary, PannErgy Geothermal Power Plants Ltd was awarded a non-repayable grant of HUF 442,479,143 in the “Support to market-oriented research & development activities” (PIAC_13) scheme announced in the framework of the New Széchenyi Plan.
Description of the project
Now backed by the grant from the Research and Technological Innovation Fund, the goal of the R&D project (project name: “Market-oriented research and development of PannErgy Geothermal Power Plants Ltd.) is the development of such a dynamic pressure-regulating system to be incorporated in the Geothermal Project of Miskolc – designed to support long-term fail-safe sustainability – that allows the real-time optimization of the geothermal system on the basis of the parameters of the fluid flow. To minimize maintenance costs, a predictive fault forecasting processes will be designed. Another element of the development is a self-learning technology that – among other things – will specify the probabilities of the faults occurring in the geothermal system, and make proposals for the correction of the faults. With reliance on the online database linked to an analytic and evaluation facility, the objective is the development of a process control system built on a weather forecasting module.
This project of nearly HUF 900 million worth will give rise to a system that can be used in the design and development of district heating services based on geothermal energy by any supplier in Europe and beyond, or for the optimization of obsolete district heating services that utilize conventional energy carriers and geothermal heat energy systems operated with suboptimal efficiencies.
As a result of the project, PannErgy Group will come in possession of complex energy and control engineering system for use both in the domestic and global market.