Geothermal proposals in Spain and Gran Canaria

Following the award of EUR 120 million in funding for geothermal proposals in Spain by the the Ministry for the Ecological Transition and the Demographic Challenge (MITECO) which was announced in November 2023, multiple announcements have been made for proposed geothermal studies mostly in the Canary Islands.

Gran Canaria

In Gran Canaria, the Island Energy Council (CIE) has proposed a EUR 31-million project that will focus on geothermal exploration and possible drilling in the municipalities of Valsequillo, Ingenio, Agüimes, and Telde. These sites had been previously identified by Canary Islands Volcanological Institute (Involcan) as high-potential areas for geothermal development.

The CIE has established a public-private consortium to carry out the project, currently consisting of three companies from the Canary Islands – Canary Islands Base, Ayagaures Medio Ambienta, and Canaluz Infinita. The consortium is currently in negotiations with other parties that may join the project.

Enteq Technologies plc (LON:NTQ) develops and supplies equipment for Measurement, Logging and Geo-steering while drilling of wells for the Geothermal, Oil and Gas markets.

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