Enel Green Power to invest EUR 138m in geothermal work in Italy
In conjunction with a meeting with local trade unions, Enel Green Power has announced development investments in Italy of up to $155m on drilling additional wells and increasing O&M cost.
Reporting on a meeting with Italian trade unions with Enel Green Power back in April, where the company provided a report on its activities in 2018, with particular reference to safety on the working in the geothermal field.
To tackle issues of the future of geothermal in Tuscany, also due to regulatory changes luring over the industry in Italy, work groups have been established dedicated to “Construction and maintenance” and “Drilling”.
As regards the technical results, 2018 ended with a production decrease of 0.2 percent, attributable to a progressive decline in the potential of geothermal fields (in Tuscany). The company is planning to mitigate the phenomenon by increasing operating costs and planning investments in development, approximately EUR 38 million ($43m) for renovations, repowering and new wells.
There are EUR100 million ($112m) for new drilling in the three-year period 2019-2011 , which will be able to guarantee the full employment of the three teams active in the construction of 11 wells.
During the meeting there was also talk of automation and digitalization , as well as of eco – sustainability and district heating .
There are four uncertainties about the future of geothermal energy on which Enel Green Power has stressed: the expiry of the concessions up to 2024 and the lack of specifications on the renewal methods; the obligations required by the new regional law in the case of new plants; the lack of incentives for geothermal energy in the Fer1 decree ; the uncertainty on the same incentives in the expected Fer2 decree .
The union reiterated its full support for the battle for geothermal incentives while on technical questions it raises some doubts, postponing discussion and more in-depth analysis at the territorial tables.
Further background via GreenReport
Source: QuiNews Volterra