GT Energy Proposes to Construct 25 Geothermal Plants in Ireland

GT Energy is planning for constructing 25 geothermal plants in Ireland during the next decade. The company submitted last week a planning application towards building the country’s first plant for geothermal power.

GT Energy is currently engaged in talks with multiple numbers of large-sized utility firms in Ireland with the aim of finding a suitable strategic partner. It is expected that GT Energy will be securing a sum in the range of €5 – 10 million from its new partner.

The company has already lodged an application with the South Dublin County Council towards a geothermal electrical energy facility coming up at Newcastle’s Greenogue Business Park. This €30-million facility will be providing electricity for 8,000 homes from the year 2012. GT Energy is currently engrossed in completing the licensing formalities for its technology. Presently, traditional energy firms have become interested in geothermal energy while Irish Banks have already started doing research on the same.