INTERVIEW – Combining Geothermal Power With Minerals Key To Viability, says GEL CEO
The title of this post, is the same as that of this article on Renewables Now.
These three paragraphs introduce, this very much a must-read article.
Producing critical minerals such as lithium alongside geothermal electricity generation could make deep geothermal projects economically viable, according to Ryan Law, founder and chief executive of UK deep geothermal firm Geothermal Engineering Ltd (GEL).
Electricity generation on its own is quite challenging economically, but combining that baseload power with commodity pricing from the minerals seems to get these projects relatively easily funded, he told Renewables Now.
Law also pointed out that geothermal electricity generation began in Italy more than 100 years ago, but the geothermal wells there were initially used to extract boric acid. “It’s just interesting that the story started with geothermal power as a sort of mineral extraction process,” he noted
It certainly looks like we’ve gone round in a large virtuous circle.
These are some points from the article.
There Have Always Been Minerals In Geothermal Fluids
But because they were cheap and no-one bothered about them coming from China, nobody thought about mining them.
Oil And Gas Expertise Helps The Geothermal Sector
This is a sentence.
Law emphasised that the geothermal sector needs a lot of equipment and skills from the oil and gas industry, which currently in the UK are concentrated in Aberdeen. He said the UK will need a strong oil and gas industry until geothermal becomes large enough to absorb those jobs.
Law said we mustn’t disband that sector too quickly.
The US Appears To Be Backing The Sector
These are two paragraphs.
Law said he could see the sector scaling significantly within a decade, driven largely by developments in the US. He pointed to a number of big financial raises in the US recently.
“And also that the US government is very behind the mineral production,” Law remarked.
Conclusion
Geothermal energy paired with the mining of rare earth minerals could be a surprising winner in a decarbonising world.
No comments yet.
Leave a comment