Hungary is planning to build a fully carbon-neutral town from the ground up in the northwest of the country.
German property investment company FAKT invested $1.1 billion in the 1.27 square mile horticultural and infrastructure project that could create 5,000 permanent jobs.
The property company is partnering with EON, builder KESZ Group and the Hungarian government on the venture.
The entire town will be powered by solar and biogas power. The idea is to provide the groundwork for converting other regions in the area from using coal to clean energy.
When complete, Hegyeshalom-Bezenye will include about 1,000 homes, a restaurant, hotel, rail station, shopping facilities as well as schools and training units.
The project embeds a sustainable water management policy that aims to avoid lowering the area’s water table. Cooling will be supplied via geothermal plants.
This investment is the biggest and most complex agricultural and food industrial project of the last few decades and is unique in Central Europe.
Reference- Bloomberg, Futurism