Greece Opens New Round of Bidding to Explore Geothermal Sites
Greece opened bidding for companies to explore four areas for geothermal energy as it seeks to become an exporter of renewable power.
Research and investigation will require about 100 million euros ($141 million) of initial investment, according to an e- mailed statement today from the Ministry for Environment, Energy and Climate Change. The geothermal plants could cost at least 50 million euros per unit, it said.
Energy Minister George Papaconstantinou said in Hamburg this week that there is a need for exports of renewable energy from southern Europe given Germany’s vow to abandon atomic power and the political turmoil in the Middle East. Greece announced bids it received in another geothermal power exploration tender in March.
“In these difficult economic times investments in green energy are a basic pillar for national economic growth and the country’s exit from the crisis,” Papaconstantinou said today in the statement.
The four areas to be researched for geothermal potential are Kavala, the Spercheios basin, Sousaki and Ikaria Island, according to the statement.
To contact the reporter on this story: Sally Bakewell in London at sbakewell1@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
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