Arctic Green Engineering Services Ltd. (formerly Mannvit Ltd.), as technical expert of Erste Bank, carried out the technical and financial review of the planned geothermal heat supply system within the framework of a tripartite contract with the bank and the investor NEG Zrt. The geothermal system will supply renewable thermal energy to the BKV vehicle repair depot at Örs Vezér Square, using a newly drilled production and injection well with an installed capacity of approximately 4 MW.
The following main tasks were carried out during the due diligence:
- Examination of well plans and evaluation of well drilling results and well tests
- Determination and validation of production parameters
- Verification and evaluation of heating system designs
- Determination of energy parameters, forecasting of operating values
- Determination of investment costs, validation of cost plan
- Approval of invoices during execution, technical assessment and approval of credit calls
After the implementation of the system, engineers reviewed and evaluated the parameters and operating values, energy consumption and operating costs of the implemented system.
