Petratherm Teams Up with Spanish Government on Geothermal

Petratherm, a geothermal energy company, just signed a joint venture agreement with the Spain’s government, as well as the Madrid Regional government to aid in the production of 8 MW of geothermal energy for the Madrid Geothermal District Heating (GHD) project.

The venture calls for a team to be built including members from both the regional and federal government, as well as from Petratherm. The development team will work together to help customers have access to heat from geothermal energy. The committee will also research subsidy possibilities and help secure financing for the project. The Spanish Federal government has also agreed to provide up to  €87,000 towards the committee’s study on the proposed project.

The Madrid Regional government has made several new proposals to increase the regions reliability on sustainable energy. The Madrid GHD project is just one of six being explored by the regional government’s Renewable Energy Cluster Project.

Petratherm Managing Director Terry Kallis said: “This agreement reflects a strong desire by Spanish authorities to realise a working example of a geothermal district heating project in the Madrid region.”

Thanks to renewableenergyworld.com for the above quote, for more information please view the website.