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EU to support further geothermal research in the Canaries, Spain

La Caldera de Tirajana (Hoya de Tunte) y el Mar de Nubes en Gran Canaria Islas Canarias (Source: Flickr, CC, By: El Coleccionista de Instantes)
Francisco Rojas 6 Aug 2015

The EU's Commissioner for Energy and Climate Action, Arias Cañete recalled that the European Commission has financed projects worth over 30 million euros to address the challenges related to the deep and shallow geothermal energy development.

Local Spanish news state that the European Commission believes that it is feasible to “technologically and economically” develop geothermal energy in the Canary Islands given the great potential available in the Spanish archipelago, according to the Commissioner’s Miguel Arias Canete’s response to a comment made by MEP Gabriel Mato.

In that response, the Commissioner for Energy and Climate Action highlights the interest of the Commission to support research and innovation in the field of geothermal energy through the research framework programs of the EU.

“With regard to the possibilities for extensive development of this energy source in a region with great potential such as the Canary Islands, the Commission services consider technologically and economically feasible to further the exploitation of this resource for various applications, including the generation electricity and direct use of heat” said the commissioner in his written response.

Arias Cañete recalled that the European Commission has financed projects worth over 30 million euros to address the challenges related to the deep and shallow geothermal energy development.

He adds that the Commission is working in collaboration with Member States to coordinate research efforts in the field of geothermal energy in the European Strategic Energy Technology Plan (SET Plan).

In his opinion, the most important factors to attract the necessary investments are reducing investment costs and access to capital.

Gabriel Mato’s note highlights the opportunity offered by the special conditions that the Canary Islands have to develop this type of energy and he hopes that they can benefit from European research funding to expand and enhance the use of geothermal energy.

Source: El Dia