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Margün Enerji to Acquire Turkish Geothermal Firm Hez Enerji in USD 150 Million Deal

Margün Enerji’s USD 150 Million Acquisition of Hez Enerji Signals a New Geothermal Consolidation Wave in Türkiye The global renewable energy sector is undergoing a rapid phase of consolidation, with strategic acquisitions reshaping ownership structures, accelerating capacity expansion, and strengthening long-term energy security. One of the latest and most significant moves comes from Türkiye, where Margün Enerji Üretim Sanayi ve Ticaret A.Ş. has agreed to acquire geothermal company Hez Enerji İnşaat San. ve Tic. A.Ş. in a deal valued at approximately USD 150 million . The transaction, which includes an operational geothermal power plant and additional resource licenses, underscores the aggressive expansion strategy of Margün Enerji in the geothermal space. This acquisition is not just a financial transaction—it represents a broader strategic pivot in Türkiye’s renewable energy landscape, where geothermal energy is increasingly becoming a core pillar of baseload clean power generati...
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EGEC to announce Ruggero Bertani EGIA award winner at GeoTHERM expo and Congres

  Announcing the Top 5 Most Innovative Geothermal Projects in 2024

The anticipation is building as the European Geothermal Energy Council (EGEC) reveals the finalists for the prestigious Ruggero Bertani European Geothermal Innovation Award 2024. These groundbreaking projects showcase the forefront of geothermal technology and will be vying for recognition at the GeoTHERM expo & congress, set to unfold between February 29 and March 1, 2024, in Offenburg, Germany.


1. Canopus Drilling Solutions Geothermal BV (Netherlands)

Project: Field pilot of the Directional Steel Shot Drilling technology at VersuchsStollen Hagerbach, CH.


Canopus Drilling Solutions introduces the Directional Steel Shot Drilling (DSSD) technology, proving its ability to drill three times faster than traditional methods. A successful field pilot at VersuchsStollen Hagerbach demonstrated the prowess of DSSD by steering through various rock types and depths, marking a significant leap in drilling efficiency.


2. Deutsche Erdwärme GmbH (Germany)

Project: Geothermal Well GN-Th-1 (Geothermal Project Graben-Neudorf).


Deutsche Erdwärme's project in Graben-Neudorf showcases the innovative use of silicate drilling fluid systems and offshore mud cooler technology. This combination effectively handles extreme subsurface temperatures, enabling exploration of fractured reservoirs in environments reaching up to 2025 Halliburton (Netherlands)

Project: GeoESP Intake: Geothermal Electric Submersible Pumps (ESP) Intake.


Halliburton's GeoESP Intake employs technology from diverse industries to revolutionize Geothermal Electric Submersible Pumps. This project significantly reduces power consumption, manages open-hole completions, minimizes scale formation, and mitigates erosion at the ESP inlet setting depth, offering substantial advancements in high-flow geothermal applications.


 4. HydroVolve UK Ltd (United Kingdom)

Project: The GeoVolve HYPERDRIVE.


HydroVolve's decade-long dedication to research culminates in the GeoVolve HYPERDRIVE, a high-performance percussive drilling system. Proven in 2023 trial wells, this technology not only reduces rig time costs by enhancing the rate of penetration but also minimizes expenses associated with bit replacements, breaking down limitations associated with drilling deep, hard rock formations.


 5. Vulcan Energie Ressourcen GmbH (Germany)

*Project: Lithium Extraction Optimization Plant (LEOP) to produce green lithium in Europe.


Vulcan Energie Ressourcen addresses the growing demand for green lithium with the Lithium Extraction Optimization Plant (LEOP). Operating in the Upper Rhine Graben, this plant utilizes brine from deep reservoirs containing lithium. Through a sophisticated process, it extracts lithium chloride, setting the stage for further refinement into Lithiumhydroxide for battery production.


Philippe Dumas, EGEC Secretary-General, expressed his admiration for the finalists, stating, "I am immensely inspired by the caliber of innovation demonstrated by the five finalists for the Ruggero Bertani European Geothermal Innovation Award 2024."



As the geothermal industry eagerly awaits the winner announcement at GeoTHERM, these projects exemplify a dedication to excellence, pushing the boundaries of geothermal technology to new heights. The Ruggero Bertani European Geothermal Innovation Award continues to serve as a beacon for recognizing and celebrating outstanding contributions to the geothermal energy sector

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