PannErgy : The Grant Instrument for the third Miskolc geothermal production well has been issued
August 29, 2023 at 07:27 am EDT
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EXTRAORDINARY INFORMATION
Budapest, 25 August 2023
The Grant Instrument for the third Miskolc geothermal production well has been issued
On 18 November 2022, as part of extraordinary information provision, PannErgy Nyrt. (hereinafter: "Company") informed capital market participants that the Ministry for Technology and Industry, as the Grant Awarder, had awarded a maximum nominal grant of HUF 994,364,400 to application No. GEOTERM-2021.2-2021-00002 submitted by KUALA Kft. for the call for applications entitled "Grants for the activities of geothermal-based heat generation projects" as announced within the framework of the Climate and Environmental Protection Action Plan.
The Company hereby informs capital market participants that the Ministry for Energy has today issued the Grant Instrument for the above-mentioned grant to KUALA Kft., the Company's subsidiary implementing the relevant investment, dated 24 August 2023.
On 13 June 2023, as part of extraordinary information provision, the Company informed capital market participants that it rescheduled the boring of the third production well in Miskolc and planned to incorporate it into the system by 30 September 2024. In accordance with the issuance of the Grant Instrument, the Company confirms the feasibility of the revised planned schedule as published.
PannErgy Nyrt.
This announcement is published in Hungarian and English languages. In case of any contradiction between these two versions, the Hungarian version shall prevail.
Adószám / VAT reg. number: 10558377-2-43 EU adóigazgatási szám / EU VAT reg. number: HU10558377
CIB BANK SWIFT: CIBHHUHB
HUF IBAN: HU53 1070 0024 0250 2106 5110 0005
EUR IBAN: HU11 1070 0024 0250 2106 5000 0005
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PannErgy Nyrt. published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 11:26:39 UTC.
PannErgy Nyrt. is engaged in the energy related utilization, exploration and sale of renewable geothermal energy. The Company, through its subsidiaries, operates geothermal projects in Miskolc, Gyor, Szentlorinc and Berekfurdo, among others. The Company operates through two segments: Energy and Asset Management. The Energy segment includes member firms and activities focusing on energy production along with the activities supporting and serving energy investments. The Asset Management segment focuses primarily on the management of the properties in Csepel and Debrecen that are not necessary for the Energy segment directly. The Asset Management segment also includes the management and direction of the Company as a financial holding and a stock exchange issuer. The Company's subsidiaries include PMM Zrt., Kuala Kft., PannErgy Geotermikus Eromuvek Zrt., TT Geotermia Zrt., Miskolc Geotermia Zrt., Arrabona Geotermia Kft. and DoverDrill Melyfuro Kft. PMM Zrt.
PANNERGY NYRT. 
