The Vice President of the Government and Minister of Ecological Transition and Demographic Challenge, Teresa Riberaannounced the result of the call today in Las Palmas de Gran Canaria DEEP GEOTHERMALof support for groundbreaking research projects into the potential of geothermal in Spain, available here. The Canary Islands have been the absolute protagonist: ten projects on three of the islands of the archipelago will receive 106.2 million euros in funds from the Recovery, Transformation and Resilience Plan (PRTR), almost 90% of the 120 million available in this line of financing. incentives .
The program, administered by the Institute for Energy Diversification and Conservation (IDAE), an organization dependent on the Ministry for the Ecological Transition and Demographic Challenge (MITECO), has awarded grants to 11 proposals. Six of the projects – together endowed with 48 million – will be developed on La Palma, three on Tenerife – 43.2 million –, one on Gran Canaria – 15 million – and a final one, which will receive 5 million in subsidies, will be deployed in Madrid.
Half of the call’s budget was originally allocated to the Canary Islands, under the Sustainable Energy Plan of the Islandsexpressed by Government of Spainwithout prejudice to being able to choose independently of the other 60 million planned for the rest of the national territory.
The feasibility studies will include exploratory actions necessary for the analysis and quantification of the geothermal resources at the chosen locations. In addition, will conduct the first in-depth investigations –of at least 1,000 meters– of these features carried out in Spain.
The potential successful results would give the initiators access to the exploitation of this resource at a later stage and thus the deployment of the first developments of deep geothermal energy at medium and high temperatures for electricity generation or for direct thermal use in our country.
Flexibility in deadlines for the exploitation of geothermal energy
During his visit to the capital of Gran Canaria, where he met with the President Fernando Clavijo; the mayor of the city, Carolina Darias and the President of the Cabildo, Antonio MoralVice President Ribera has highlighted the opportunities that the implementation of these ten projects represents for the Canary Islands in terms of associated investments – more than 200 million euros –, R&D applications and training and employment.
The minister has announced that the Government of Spain it will be “as flexible” as the funds’ regulatory framework allows Next GenEU within the implementation deadlines of the projects, of great technical complexity, selected on a competitive basis. “The government will in every possible way facilitate and guide the development of these initiatives, which will open a new chapter in the development of renewable energy sources in Spain and they can contribute to greater energy security for Canarian society in the future,” he noted.
Geothermal, clean and green energy
The geothermal es clean, manageable and inexhaustible energy. Its use results in less external energy dependence, reduces fossil fuel consumption and strengthens security of supply by ensuring a constant energy flow that is not dependent on seasonal variations.
Although Spain has a geological structure conducive to the presence of this resource, the high costs and financial risks associated with this extraction technology have so far prevented its implementation. The subsurface of the Canary Islands has a special volcanic character the largest medium and high temperature geothermal resource in the entire territoryso that it could cover a large part of the archipelago’s electricity demand.
Decarbonizing the Canary Islands through geothermal energy
The results of the call for DEEP GEOTHERMAL son another example of the opportunities that the energy transition offers to areas such as Canary Islandswith additional problems arising from the disconnection of the electrical systems on the Great Peninsula.
“The government – said Ribera – maintains an unquestionable will to promote the decarbonization process and the deployment of clean energy on these islands.” A commitment that has already resulted in the allocation of 704 million in PRTR aid to the Canary Islands for the promotion of renewable energy sources, energy efficiency, rehabilitation, sustainable mobility… either through calls centralized by the IDAE or through territorial or specific programs, managed by the community itself.