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HomeGeothermalEesti Energia signs agreement for a geothermal pilot project

Eesti Energia signs agreement for a geothermal pilot project

Estonia’s energy group Eesti Energia signed an agreement of common intentions with Geothermal Baltic, a company owned by Estonian investors representing technology-based energy group Eavor. The agreement aims at the construction of a geothermal test borehole in Narva, on the property of Enefit Power. If the pilot project is successful, the solution will provide the city of Narva with competitively priced green thermal energy without CO2 emissions.

“We are constantly looking for the best technologies and partners in the world to provide our customers with affordable energy with the smallest possible environmental footprint. The heat stored in the earth’s crust is a similar source of renewable energy as wind and solar, the use of which will help us reach carbon-neutral energy production,” said Margus Vals, Member of the Management Board of Eesti Energia. “We will start testing in Narva whether the use of geothermal energy on a larger scale is possible in Estonia.”

Narva has the second-largest district heating network in Estonia, supplying heat to its nearly 60,000 inhabitants. Heat is currently produced in Narva at an Enefit Power combined heat and power plant for residents at the most affordable price in Estonia: 39.83 euros per megawatt-hour (MWh). “If the pilot project is successful, we will be able to offer the people of Narva carbon-free district heating at a reasonable price,” Mr Vals added.

“Depending on the results of the pilot project, we can design a borehole for heat production with a capacity of at least 15 megawatts (MW),” added Kaido Kõrm, head of Geothermal Baltic. “The price of geothermal heating will be very competitive even in Narva where it is one of the lowest in Estonia. In addition, geothermal energy is stable and its price does not depend on the sudden price increases of other types of energy.”

“We are confident that the production of green energy that our technology enables will contribute to the reduction of greenhouse gases in the atmosphere and to the improvement of the living environment,” said Executive Vice President of Eavor Technological, Robert Winsloe. “The ecological footprint of geothermal energy is the lowest among known forms of energy production.”

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