OMNI Features｜EU Investment Bank Throws Weight Behind 'Holy Grail' Geothermal Tech．GE Vernova Invests in Xlinks' Morocco - UK Power Project

The basic principles of the Eavor-Loop.
（Photo: Eavor）

｜EU Investment Bank Throws Weight Behind "Holy Grail" Geothermal Tech
European Investment Bank (EIB) has handed Canadian start-up Eavor a €45m ($48m) loan to support the construction of its 'closed-loop' geothermal plant in Germany near Munich. The groundbreaking geothermal technology that promises to provide 'limitless clean power from the Earth's core.' The project had already received a €91.6m grant – around a third of its expected cost – from the EU Innovation Fund last year.

Founded in 2017, Eavor claims it can generate GW of baseload and dispatchable renewable energy anywhere in the world by harnessing the power of the Earth’s core. The company proposes drilling several kilometers deep – to depths not unfamiliar to the oil and gas industry – and injecting water to power electricity-generating turbines.

The method takes advantage of the average 30°C increase in temperature for each kilometer drilled. Eavor's crucial innovation compared to other geothermal projects is then turning that hole into a closed loop. Cold water is poured down one end of this loop and will turn to steam as it travels horizontally along kilometres below ground, before returning up another pipe to the surface.

Eavor says that not only would this loop generate constant energy but it would essentially power itself as the cold water is constantly heated underground before the heat is extracted and it cycles around again, without the need for a pump – a phenomenon known as a thermosiphon.

This will be the first time Eavor has implemented its technology on a commercial scale. It built a pilot plant in Alberta, Canada, that has been running since 2019. All four loops at the plant are slated to be built by 2027.

｜GE Vernova Invests in Xlinks' Morocco - UK Power Project
Xlinks First Limited, the investment company established by Xlinks Limited to deliver the Morocco - UK Power Project, today announces that GE Vernova has invested $10.2 million in the Project as a minority stakeholder to further accelerate delivery and buildout of the Project. Once complete, the Project's wind and solar generation, combined with flexible battery storage, is expected to supply 3.6 GW of affordable, reliable, and clean power and deliver approximately 8% of Britain's current electricity needs - or the equivalent electricity of seven million homes.

The new electricity generation and battery storage facilities, located in south Morocco, will be connected exclusively to Britain via 4,000km HVDC sub-sea cables. Furthermore, the project is expected to drive the creation of thousands of employment opportunities, including a significant proportion of qualified jobs, supported by training and certification programs, which is expected to help consolidate the pioneering role of Morocco's renewables expertise as a regional and continental energy hub.

Source: Recharge News/ by Cosmo Sanderson｜The Voice Of Renewables