MOL, Enex and Green Rock Energy Establish CEGE
Posted on: Saturday, 2 August 2008, 06:00 CDT
Hungarian oil and gas company MOL has signed the articles of association with Iceland-based Enex and Australian company Green Rock Energy International for the establishment of Central European Geothermal Energy Production Company.
The aim of the new company is to explore, produce and sell geothermal energy, as well as construct geothermal power plants for directly supplying thermal heat.
The three founders have an equal one-third share in the HUF6 million share equity of Central European Geothermal Energy Production Company (CEGE).
CEGE's mission is to become the market leader in geothermal energy in Hungary through the co-operation of the three companies. The new company will implement geothermal exploration in Hungary and if opportunities arise, on a regional level.
Source: Datamonitor
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