The Cabildo de Gran Canaria is expecting the decision on the application for extension of the expired mining rights for geothermal energy on Gran Canaria, Canary Islands to be finalized this month. The application was made by the island’s Ministry of Energy (CIE) specifically for high-potential sites in the municipalities of Valsequillo, Ingenio, Agüimes, and Telde.
The CIE research project aims to evaluate the feasibility for geothermal energy production in the aforementioned high-potential areas, which had been previously identified by a 2017 study from the Volcanological Institute of the Canary Islands. It is hoped to tap into a high-temperature geothermal resource that would make it possible to generate power. It is estimated that a 10-MW geothermal power plant can supply around 23,000 households in the island and save 57,000 tons of CO2 emissions.
Geothermal energy for industrial heating or water treatment is also being considered if a medium-enthalpy resource is found.
To help finance the geothermal project, the Cabildo has founded a consortium with three private companies, namely Canary Islands, Base, Ayaguares Medio Ambiente, and Canaluz Infinita. If the project proceeds to drilling, the Cabildo will reduce its shares from the current 97% to 49.9% to allow for private capital to enter.
The Ministry for Ecological Transition has already committed EUR 15 million for the first geothermal drilling, but a total investment of EUR 30.9 million has been estimated for the research drilling phase alone. If everything goes to plan, the research phase should be completed by January 2026. The Cabildo had previously laid out a multi-phase development plan for geothermal energy in Gran Canaria.
The Spanish oil company Repsol currently holds an exploration permit for the “Lisa” geothermal project in Gran Canaria. According to the latest update provided by Repsol, the results so far indicate the existence of a medium-high enthalpy geothermal resource on the island.
Source: Infos Gran Canaria
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