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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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Bjelovar's Croation Geothermal Evaluation Finished

Harnessing Earth's Heat: Bjelovar's Geothermal Revolution

By: Robert Buluma

In the heart of Croatia, a quiet yet ambitious city is silently leading the charge towards a greener, more sustainable future. Welcome to Bjelovar, where innovation meets determination, and the earth's own warmth is becoming the cornerstone of a groundbreaking energy shift.

Mayor Dario Hrebak proudly declares that Bjelovar is on the brink of transformation. With over 200 million euros invested in various projects – an amount equivalent to half the iconic Pelješki bridge – the city is not just dreaming of a sustainable future; it's actively building it.

One of the most promising endeavors is the geothermal well project in Veliki Korenovo. This venture, with a total investment of 4.4 million euros, symbolizes Bjelovar's commitment to harnessing the Earth's natural resources responsibly. Co-financed by the Governments of Norway, Iceland, and Liechtenstein, along with substantial support from the Ministry of Regional Development and EU Funds, this project exemplifies international collaboration for a common cause.

The drilling, which commenced on February 9, promises to tap into water reservoirs with temperatures ranging from 70 to 80 degrees Celsius at a depth of 1,500 meters. Progress is swift, with 293 meters already conquered within three days of drilling. Mayor Hrebak envisions this geothermal well not only as a source of warmth but also as a catalyst for economic growth. It will not only heat the surrounding business zone but also serve Terme Bjelovar and the Bjelovar Fair, ushering in a new era of prosperity for the region.

What sets Bjelovar apart is its bold vision for the future. Mayor Hrebak boldly declares that within the next decade, Bjelovar will become Croatia's first energy-sustainable city. Plans are already underway for five more geothermal wells, ensuring that the city's reliance on renewable energy sources continues to grow.

image: Croation parliament president Gordon Jandrokovic and Mayor Dario Hrebak at Korenon GT-I Wells in Veliko Korenovo

But this isn't just about Bjelovar; it's about inspiring change on a national scale. Minister Šim Erlić, during his visit to Bjelovar, emphasized the government's unwavering support for green initiatives. Bjelovar's success story serves as a beacon of hope, encouraging other cities to embrace sustainable practices and integrated investments.

As the drilling machines hum with determination and the first gush of warm water emerges, Bjelovar stands on the precipice of history. It's not just about drilling a well; it's about drilling towards a future where energy is abundant, clean, and in harmony with nature.

Our earlier article also highglights how USA benchmarks on Icelands Geothermal realm

In the words of Mayor Hrebak, "Bjelovar is not just a city; it's a testament to what's possible when a community dares to dream big and act boldly." And as the world watches, Bjelovar's geothermal revolution serves as a reminder that our planet's greatest treasures are often hidden beneath the surface, waiting to be unearthed for the benefit of all.

Source:Bjelovarkom 

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