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...
Pioneering Deep Geothermal Energy in Estonia
QHeat, a leading innovator in geothermal well technology, has taken a significant step in its international expansion by licensing its patented coaxial heat well technology for a pilot project in Estonia. Partnering with Engineering Bureau Steiger and the Geological Survey of Estonia, QHeat aims to explore the potential of deep geothermal energy in a region with limited prior research on its crystalline basement.
This milestone project involved drilling a 712-meter deep geothermal well at the Arbavere research center testing the feasibility of low-temperature district heating and cooling. Additionally, QHeat provided consultation for two more pilot projects one in Tallinn (500 meters) and another near Roosna-Alliku (five wells at 500 meters each). The projects, initiated in late 2023, successfully concluded in early 2025, setting the stage for further geothermal advancements in Estonia.
QHeat’s Advanced Geothermal Technology
QHeat’s coaxial heat well technology is engineered for deep geothermal applications, reaching depths of up to 2,000 meters significantly deeper than traditional geothermal heating solutions. This system enhances heat extraction efficiency by leveraging an insulated coaxial flow, allowing for higher water volumes to be pumped compared to conventional methods.
According to Hardi Aosaar, Development Manager at Steiger, QHeat’s technology also offers a crucial advantage for densely populated areas like Tallinn, where rapid urban expansion demands innovative district heating solutions. "Tallinn is growing so rapidly that our current district heating systems are having trouble keeping pace," Aosaar notes.
Benefits of QHeat’s Coaxial System:
Higher Water Flow Rates: Enables more efficient heat transfer.
Reversible Operation: Can be used for both heating and cooling.
Compact Footprint: Requires less surface area, ideal for urban environments.
Overcoming Geological Challenges in Estonia
Drilling deep geothermal wells in Estonia presented unique geological challenges, as the region’s sedimentary bedrock sits atop a crystalline basement. Unlike in Finland, where QHeat typically uses Down-The-Hole (DTH) drilling for its deep wells, Steiger had to implement a dual drilling approach:
Rotary Mud Drilling for the sedimentary layer.
DTH Drilling for the crystalline basement.
This hybrid method allowed the team to adapt to Estonia’s complex subsurface conditions, making the project a true learning experience for all involved.
A Breakthrough in Deep Geothermal Energy
For Steiger, this project marked its first deep geothermal drilling endeavor, reaching depths close to 1,000 meters a new milestone for the company. The lack of extensive geothermal data in Estonia meant that this project was not just a pilot for the Geological Survey but also a critical research opportunity for QHeat and its partners.
"Thanks to QHeat’s expertise and technology, we are now much better prepared for the future," says Aosaar. "If we encounter geological or technological difficulties, we now know how to overcome them efficiently."
The Future of Geothermal Energy in Estonia
The successful execution of these pilot projects demonstrates the viability of deep geothermal solutions in Estonia. With QHeat’s technology, the potential for sustainable district heating and cooling is expanding, paving the way for further exploration and commercial-scale implementation. Key Takeaways from the Project:
First deep geothermal licensing project for QHeat internationally. First geothermal well of nearly 1,000 meters for Steiger.
Successful adaptation to Estonia’s unique geological conditions.
Potential for scalable deep geothermal solutions in urban settings.
With Estonia now actively testing deep geothermal solutions, QHeat is positioned as a key player in the country’s energy transition. The partnership between QHeat and Steiger is a testament to the power of collaboration in advancing clean energy solutions for growing urban landscapes.
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Related:Norways Deep Geothermal Breakthrough
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