Hungary initiates a funding round for geothermal drilling and development.

The Hungarian Government, via the Jedlik Ányos Energy Program, currently has three open funding opportunities totaling HUF 41 billion (approximately USD 120 million) for geothermal initiatives. These funding calls were part of a social consultation process before the end of 2025.

As of March 2, 2026, two new funding calls have been launched:

The HUF 19 billion call provides interest-free loans for businesses. For deep geothermal investments, a minimum of HUF 1 billion and a maximum of HUF 6 billion are available, while shallow geothermal projects can secure loans ranging from HUF 100 million to HUF 1 billion. Ten percent of the budget is reserved for geothermal projects.

The HUF 10 billion call is aimed at subsidizing the initial well drilling of geothermal projects. Rural projects can receive a minimum of HUF 40 million and up to HUF 1 billion, with funding available for ten to twenty projects. If the drilling is successful, the state can cover one-tenth of the total eligible expenses, whereas, in the case of failure, it may cover up to half. The deadline for project completion is two years from the support contract's implementation, or by the end of 2028 at the latest.

Additionally, a HUF 12 billion funding call has been available since January. This funding is designated for developing a grid-connected geothermal heat and electricity generation system that utilizes an existing production and injection well. The full amount can be allocated to a single development project, and any region in the country, except Budapest, can be chosen for investment.

The geothermal funding initiative is part of a broader HUF 130 billion allocation for sectoral advancements, which encompasses energy storage projects and enhancements in energy efficiency.

This funding program aligns with the National Geothermal Strategy released by the Ministry of Energy in 2024, which aims to double Hungary's domestic energy use by 2030. With a current output of 6.4 PJ, the Ministry is working towards increasing it to 8 PJ by 2026, and 12-13 PJ by 2030.