Group 1 - The company, KS ORKA Renewables Pte Ltd, has signed a joint venture letter of intent with Hungarian company BölényZrt to establish a joint venture aimed at advancing geothermal power projects in Hungary [1] - The initial focus of the joint venture will be to upgrade existing geothermal power plants in Hungary to increase their net power generation capacity to 6.5 MW and to develop, construct, and operate a geothermal power plant with a total installed capacity of 104 MW, depending on reservoir conditions [1] - Bölény is in the process of establishing a mixed fund with an official background focused on the energy sector, which will become a shareholder in the joint venture upon its formation [1] Group 2 - The registered capital for the proposed joint venture is 5 million forints (approximately 107,500 RMB), with KS ORKA holding 45%, BEF (or Bölény) holding 45%, AAPRIL Kft holding 4%, and other foreign individual shareholders holding a combined 6% [2]

Core Viewpoint - The company, KS ORKA Renewables Pte Ltd, has signed a joint venture letter of intent with Hungarian company BölényZrt to establish a joint venture aimed at advancing geothermal power projects in Hungary [1] Group 1: Joint Venture Details - The joint venture will focus on upgrading existing geothermal power stations in Hungary to increase their net power generation capacity to 6.5 MW [1] - The joint venture plans to develop, construct, and operate a geothermal power station with a total installed capacity of 104 MW, contingent on reservoir conditions [1] - Bölény is in the process of establishing a mixed fund with an official background focused on the energy sector, which will become a shareholder in the joint venture [1] Group 2: Financial Structure - The registered capital for the joint venture is set at 5 million Hungarian Forints, approximately 107,500 RMB [2] - KS ORKA will hold a 45% stake in the joint venture, while BEF (or Bölény) will also hold 45%, AAPRIL Kft will hold 4%, and other foreign individual shareholders will collectively hold 6% [2]

Group 1 - The article discusses the potential of geothermal energy as a long-term energy source, suggesting that the Earth's internal heat could provide energy for hundreds of thousands of years if properly harnessed [1][3][5] - Current global oil reserves are estimated to last for about 50 years at the current consumption rate, highlighting the urgency for alternative energy sources [1][3] - The Earth's core contains immense heat generated from its formation and radioactive decay, which could theoretically sustain energy production for approximately 2.3 billion years [7][9] Group 2 - The article mentions that the United States is developing new technologies, such as microwave drilling, to access geothermal energy located 20,000 meters underground, which has historically been challenging due to high temperatures and rock hardness [13][17][19] - Companies like Quis Energy and Fervo Energy are leading efforts in geothermal energy extraction, with promising results from their experimental projects [19][21] - China also has significant geothermal resources, accounting for one-sixth of the global total, with ongoing projects in regions like Tibet and Yunnan [21][25] Group 3 - The article outlines three major challenges in accessing geothermal energy: the hardness of underground rock, environmental impacts, and economic viability [26][29][31] - Concerns about the sustainability of geothermal extraction practices are raised, including potential environmental degradation and the economic feasibility of energy production [29][31][33] - The International Energy Agency predicts that geothermal energy could meet about 20% of global electricity demand by 2050, with China likely playing a significant role in this transition [35][37]

Core Viewpoint - The U.S. Department of the Interior is implementing an emergency permitting process to accelerate the development of geothermal energy [1] Group 1 - The emergency permitting process aims to streamline the regulatory framework for geothermal energy projects [1] - This initiative is part of a broader strategy to enhance renewable energy sources and reduce reliance on fossil fuels [1] - The move is expected to facilitate quicker project approvals and increase investment in geothermal energy [1]