The projects, located in 16 European Union member states, will be financed from the revenue generated by the sale of 200 million allowances from the new entrants' reserve of the emissions trading system, the bloc's flagship environmental policy – meaning that the financing will come from polluters that have bought emissions permits. Each allowance bought allows the purchaser to emit one tonne of carbon dioxide into the atmosphere.
The Commission informs that “a geothermal power plant, near the village of Ferencszállás in south-eastern Hungary, will use geothermal energy from hot dry rock in a compressional stress field. An Enhanced Geothermal System will involve the drilling of four 4km deep production wells and two re-injection wells, and the hydraulic fracturing of the reservoir under the compressional stress fields. Net capacity of the plant is 8.9 MWe; the electricity is expected to be sold to the electrical grid.”
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