Finnish firm eyes potential for geothermal development in Uzbekistan
Finnish company Kauko International has signed a Memorandum of Understanding with authorities in Uzbekistan exploring the possibility of geothermal development in the country.
As reported locally, the Uzbekistan’s National Agency for Project Management under the President of Uzbekistan and the Finnish company Kauko International signed a memorandum of understanding to develop the energy sector by attracting investments and introducing sustainable, reliable and affordable energy production technologies.
According to the NAPM press service, the document implies the use of a solution that uses geothermal energy, as well as a joint search for ways to exploit geothermal energy sources in the country.
The proposed solution is based on Finnish innovative drilling equipment, which increased drilling speed by an average of 2-4 times. This reduces financial costs and time, as drilling to a depth of 4-7 km requires lots of time and financial costs, which leads to significant risks. The innovations used in the drilling and exploitation of sources have also increased the efficiency of geothermal energy production.
The Republic of Uzbekistan, a former part of the Soviet Union, is a landlocked country in Central Asia with a population of around 33 million.