Exploiting the earth’s energy to produce power and heat (geothermal) is not new. Plants have been operational since the 1960s, but many factors have given significant momentum to the sector. Several new exploration and production techniques are from the oil & gas (O&G) sector. These techniques have made the viability of projects much higher, as exploration companies can locate the required heat source.
• Closed-loop extraction techniques minimize the environmental impact on water tables and soil, making geothermal energy sustainable.
• Financing baseload renewable energy has become much more attractive for investors.
• Utilizing the heat produced by geothermal in district heating or for own use in oil & gas operations helps decarbonization.
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