Greece to open new bidding for four exploration licenses

Ancient Castle Walls of Drakano, Ikaria Island, Greece (source: flickr/ Lauren Carpe Diem, creative commons)
Alexander Richter 7 Sep 2011

Greece ready to open new bidding round for geothermal exploration at four areas, Kavala, the Spercheios basin, Sousaki and Ikaria Island.

As reported by Bloomberg, Greece continues to tender geothermal exploration licenses. Goal is for greece to become an exporter of renewable power.

There are now four areas up for research, Kavala, the Spercheios basin, Sousaki and Ikaria Island.”

“Research and investigation will require about EUR100 million (US$141 million). Each plant could cost up to EUR50 million (US$71m). According to a statement by Greece Energy Minister, there might be a need for renewable energy exports from Southern Europe, with Germany abandoning nuclear power.”

Source: Bloomberg