Drilling for Canoe Reach geothermal project in British Columbia could start this year
Canadian developer Borealis GeoPower could start drilling for its Canoe Reach geothermal power project in Valemount, British Columbia in Canada this year.
Canadian geothermal developer Borealis GeoPower and P.Squared Renewables announced last month the acquisition of Borealis by P.Squared, with Borealis becoming a fully-owned subisidiary of the company.
It is expected that the transaction with be completed by the end of September, as reported locally by The Rocky Mountain Goat.
Borealis has two geothermal energy projects in British Columbia, both are in the exploration phase and are ready to see drilling activities. Its main project is the Canoe Reach geothermal project in Valemount/ B.C. Borealis has been working on the project for seven years. The company has drilling authorization for two areas.
The company plans for a geothermal power plant of up to 15 MW, with power to be sold to the provincial utility B.C. Hydro and other customers in the area directly. One of the customers could become the Valemount Geothermal Society (VGS), which is currently developing a “Hot Pool Project” in the Canoe Reach area.
Borealis has announced intentions to build a so-caled “Sustainaville”, a geothermal energized commercial “Geo-Park”. This park coudl be offering geothermal power and heating to potential customers from the food, forestry, tourism industry but also for community district heating.
Borealis’ other project is the Lakelse Lake Energy Project located near Terrace, B.C.
Source: The Rocky Mountain Goat