ITER estimates a nearly 60% success rate and considers a prospective plant with a budget of around 170 million
SANTA CRUZ DE TENERIFE, January 30. (EUROPA PRESS) –
A joint initiative involving the Tenerife Council and Disa will allocate a maximum of 86 million euros for surveying three areas on the island with the aim of developing geothermal energy.
The project details, scheduled to commence in 2025 with initial results expected by the year-end, were unveiled at a press conference on Tuesday by the President of the Council, Rosa Dávila; Juan José Martínez, the Minister of Innovation, Research and Development; Joaquín Gurriarán, the director of DISA Renovables; and Nemesio Pérez, the director of the Environmental division at the Technological Institute of Renewable Energy (ITER).
Half of the investment, specifically 43.1 million, is provided through aid from the Institute for Energy Diversification and Saving (IDAE), under the Ministry of Ecological Transition and Demographic Challenge, while the remaining 25% will be shared by the Council and the company. If the initial actions yield positive results, the entire investment may not be required.
The exploration will cover three areas spanning over 150 square kilometers in the western, southern, and central parts of the island.
Dávila described this endeavor as a “journey” embarked upon by the Council as part of future policy to help Tenerife become “100% sustainable,” powered by “stable and clean” energy that offers more reliable continuity to the system compared to photovoltaic and solar sources.
She emphasized the critical juncture the island finds itself in to achieve energy independence and expressed gratitude for securing the majority of the funding, surpassing large multinational corporations for the assistance – garnering over 85% of the funds as opposed to Repsol’s marginally over five million.
Nemesio Pérez underscored that each survey costs approximately ten million euros and will prospect up to a maximum depth of 2.5 kilometers, without causing harm to the island’s aquifers or ecosystem due to the less than 50-centimeter diameter of the operation.
He highlighted that the Canary Islands possess the highest geothermal potential in Spain, with Tenerife identified as the island with the greatest prospects, boasting a close to 60% likelihood of discovering an exploitable resource. “Though certainty eludes us, our pursuit will ascertain the potential exploitable resource, addressing the decades-old belief in an underground treasure,” he remarked.
Pérez emphasized the meticulous approach to minimize risk and indicated that a 20 megawatt geothermal plant, for instance, would equate to a 100 megawatt photovoltaic plant.
Expounding on geothermal energy, he emphasized its competitive costs, lower carbon footprint compared to photovoltaic and solar energy, and minimized land requirement, particularly beneficial for the limited territorial expanse of the Canary Islands.
The coordinator of the Canary Islands Volcanological Institute (Involcan) cited the Azores as a “success story” where geothermal energy accounts for over 40% of the island’s electricity generation.
ASSESSING THE TIMELINES, “A LITTLE TIGHT”
Juan José Martínez identified this as “the most impactful project for the island’s future,” enabling strides towards energy sovereignty and contributing to savings on the fossil fuel bill, with geothermal energy providing steadfast support to the system unlike wind and sun-derived sources.
While acknowledging the somewhat challenging deadlines for justifying the aid, Martínez expressed understanding that extensions may be granted by the ministry and highlighted the experience of Involcan in its surface studies.
If geothermal resources prove feasible, the Council already envisions the construction of a geothermal power plant, with a minimum capacity of 30 megawatts, entailing an approximate cost of 170 million.
Joaquín Gurriarán emphasized the significance of this project for the group, expressing enthusiasm for “embracing transition projects,” especially on volcanic islands where 80% of electricity generation relies on imported fossil fuels. “This presents an opportunity to mitigate greenhouse gases,” he added.
He reiterated that the project presents an opportunity to lower the electricity generation rate through sustainable and affordable energy, anticipating “two years of intensive research” and “productive collaboration” with the Council.
In the event of successful surveys, he indicated that the impact of other renewable energies could be “quadrupled.”
