Thrive Renewables will invest £6.5 million in the UK’s first geothermal plant.
The project is being developed by Geothermal Engineering Ltd and is based in Cornwall. As a result of the project, 3 MWe of baseload electricity will be supplied to the national grid. In addition to this, 12 MW of renewable heat will be generated for local use.
This investment by Thrive Renewables will enable Geothermal Engineering to complete testing and build the power plant.
Currently, the project has seen two wells drilled. One of which is 5.1km in depth, making it the deepest onshore well in the UK. As well as this, the wells are expected to be the hottest wells within the UK, expected to reach 190°C.
The development is currently in the final stages of testing.
To summarise, the energy derived from the water heated deep in the earth will generate enough electricity to power over 6,000 homes and will be available 24 hours a day.
More information can be found in the Press Release by Thrive Renewables.