Petratherm gains further European foothold

In Australia, Petratherm has signed a memorandum of understanding (MoU) with Enel Green Power to jointly assess and develop new and existing electricity production projects across the Iberian Peninsula (Spain and Portugal) and the Canary Islands. The MoU also provides for 50/50 cost sharing for direct and external exploration and will establish a separate company to cover each project. A technical committee will be formed from both parties to oversee exploration and development. Enel Green Power has 800 MW of GT power generation capacity and another 300MW in project development. Petratherm España has three geothermal exploration licenses in Spain’s Canary Islands and is aiding the development of the 8MW Madrid geothermal district heating project. The company also has four geothermal investigation permits covering areas within the Valles and Abro Basins near Barcelona.