May 2011, Hoogeveen, The Netherlands
IF WEP, Grontmij and Bright Capital Partners join together to investigate the generation of electricity from ultra-deep geothermal wells at a depth of 6 to 10 kilometers. The parties signed a cooperation agreement before yesterday.
This form of renewable electricity is expected to be cheap and could eventually fill the needs of 30% to 50% of Dutch electricity. Calculations show that geothermal electricity at this depth regarding to cost price can compete with electricity generated from coal. At such depths is not only the temperature but also the conversion efficiency of heat to electricity is much higher.
In this cooperation, Grontmij will focus on the on the design of the power plant and sale of heat and electricity. Well Engineering Partners (WEP) and IF technology are specialized in geological survey and drilling activities while Bright Capital Partners focuses on the financing of the project.