Vulcan and Enel to jointly develop Cesano geothermal lithium project in Italy
Vulcan Energy Resources and Enel Green Power have agreed to jointly develop the Cesano license near Rome in Italy, a site with geothermal lithium potential.
Vulcan Energy Resources Ltd (Vulcan) and Enel Green Power (EGP) have signed a binding agreement to jointly develop Vulcan’s Cesano license near Rome. Under the agreement, the two companies will each own 50% of the license area which has a potential geothermal and lithium resource.
Vulcan’s Cesano Permit extends over an area of 11.5 sq. km., 20 km. NNW of Rome. The area host wells drilled by Enel Group which yielded hot geothermal brine with high lithium values.
Vulcan and EGP will assess the potential of the Cesano license using a step-wise approach, starting with a scoping study. EGP had already previously explored and drilled a number of wells in the Cesano area and gathered data on the local reservoirs. The companies also agreed to evaluate the opportunity to cooperate on other geothermal lithium projects in Italy.
EGP is part of the Enel Group dedicated to the development of energy generation from renewable sources. EGP is a global leader in geothermal energy with plants in Italy, Chile, and the United States. EGP set a new record in 2021 with 119 TWh of generated renewable energy.
Vulcan recently received equity investment from Netherlands-based automotive manufacturer Stellantis, making Stellantis the second largest stakeholder in the company. This agreement also included the extension of a binding offtake agreement previously signed between the two companies from 5 years to 10 years.
Source: Vulcan Energy