Consortium established for geothermal exploration in Gran Canaria, Canary Islands
Announcement of the Gran Canaria Geotermia private-public consortium (source: Gran Canaria Energy Council)
Carlo Cariaga
28 Sep 2024
A public-private consortium has been launched to lead exploratory drilling work for high-temperature geothermal resources in Gran Canaria in the Canary Islands.
A public-private consortium has been established to lead the exploration efforts for potential geothermal resources in the island of Gran Canaria in Spain’s Canary Islands. During the presentation of the new consortium, the President of the Cabildo of Gran Canaria, Antonio Morales, announced that geothermal drilling activities are expected to start before the end of October 2024.
The new company, Gran Canaria Geotermia SL, is held by the Gran Canaria Energy Council (49.985%), Dando Drilling Spain of the Dando Drilling Group (44.014%), the Ayaguares Medio Ambiente of the Perez Moreno Group (3%), and the Canary Islands Base of the Satocan Group (3%).
Three boreholes will be drilled to depths of up to 2700 meters in a 36-square kilometer parcel of land located between Ingenio, Agüimes, Telde, and Valsequillo. All the partners in this initiative have expressed optimism for the project, stating that initial exploration results have been positive in indicating the presence high-enthalpy geothermal resources at the project site. Located in the southeastern region of Gran Canaria, the drilling site has the highest geothermal anomalies in the island.
The cost for the drilling activity is estimated at EUR 30 million, about half of which will be provided by the Institute for Energy Diversification and Saving (IDAE) under a previously announced funding programme for deep geothermal projects in Spain.
“This consortium perfectly combines the experience of our local companies in areas such as the complete water cycle, waste or construction, with the experience of Dando Drilling in the field of oil, hydraulic and geothermal drilling,” said Antonio Morales. Dando Drilling International will be responsible for carrying out the drilling to assess the feasibility of using geothermal resources for power generation.
Updates on each phase of the geothermal project are provided at the official site of Gran Canaria Geotermia.
Source: Gran Canaria Energy Council
