€120billion geothermal project in Europe


On 28th of January 2018 in Brussels at an EU steering committee meeting on energy technique of the future, SETPLAN, Guðni A. Jóhannesson general director of energy reported on a plan on deployment of geothermal heat for heating and electric production in Europe. Iceland is a member in SETPLAN cooperation on the grounds of EEA cooperation.

A workgroup under supervision of Guðni and other colleagues have been working on various topics e.g. technical matters, highlights and projects that need to be fulfilled under strict rules of the steering committee set in the beginning of the project. Matters that need to be covered are e.g. utilization of geothermal heat, improve the competitiveness and minimize costs regarding exclusive factors of geothermal heat production.

The SETPLAN committee approved the plan from the workgroup and to finance research and development projects within the geothermal fields with 940 billion euro. The financing comes from the partner countries, from EU funds and the industry. The first cooperation project has begun, GEOTHERMICA, and applications thereunder could lead to 60 billion euro projects. Orkustofnun (National Energy Authority) leads the project from Iceland; other partners are also RANNÍS (The Icelandic Centre for Research) which runs the application process. GEORG runs the office of the project and daily operations.

Source: https://orkustofnun.is/orkustofnun/frettir/nr/1912

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