Increasing investment interest in geothermal in Greece, driven by greenhouse operations

Greece Independence Day (source: flickr/ John D. Carnessiotis, creative commons)
Alexander Richter 22 Dec 2017

With investments of up to EUR50 million in geothermal development in northern Greece, there is increasing interest in geothermal energy for greenhouse operations.

Over the past 5-6 years up to EUR 50 million ($59 million) have been invested into geothermal energy in northern Greece, mainly for the development of large-scale greenhouse operations. This trend continues boosted by interest in the energy sector, tourism and district heating of urban areas, as described in a report released by Agrenda.

“At the moment, the main interest lies in investment into development of already leased fields in the Region of East Macedonia and Thrace, with an cumulative area of about 500 acres,” so Dr. Paschalis Dalampakis, Deputy Researcher at the Institute of Soil Resources of ELGO-Dimitra, speaking at an information meeting in the municipality of Paggeio.

The main advantages of geothermal energy, is that its water reaches up to 90 degrees Celsius, covering peak loads up to 100%, without other energy reserves, is available 24 hours a day, for 365 days a year, while it also has a very low production cost of the energy unit, ranging from EUR 0.01-0.02/ kWh, maximum when the corresponding oil expense would exceed EUR 0.12-0.13/ kWh.

However, he added, it is not an easy task, since the initial cost of infrastructure (drilling, networks, etc.) is often too high and is even more burdensome due to cheap land availability and requires great attention and during its operation due to the strain and wear of mechanical equipment due to the very nature of geothermal fluids (high temperatures, salt deposits, corrosivity, etc.).

Based on estimates there are five key geothermal fields in the region. In Eratino Chrysoupolis, Kavala, the Municipality of Nestos has leased about 14,000 acres and developed infrastructure worth a total of EUR 10 million to support small producers mainly in productive asparagus planting.

Source: Agro News