Eavor Technologies welcome bipartisan geothermal legislation
Published by Jessica Casey,
Editor
Energy Global,
Eavor Technologies, an advanced geothermal or closed-loop energy company, has welcomed bipartisan geothermal permitting legislation introduced in the US Senate that will address significant permitting challenges for all types of geothermal projects across the country. The Geothermal Energy Optimization (GEO) Act of 2024, introduced by Senator Martin Heinrich (D-NM), James Risch (R-ID), Mike Lee (R-UT), and Catherine Cortez Masto (D-NV), will:
- Establish permitting parity for geothermal technologies by introducing a categorical exclusion specifically for exploration drilling, and well-field development, streamlining the environmental review process.
- Create a geothermal ombudsman and strike team to provide technical assistance and mediation for dispute resolution, ensuring efficient project development.
- Set new targets for geothermal leases on federal lands and mandate that the Bureau of Land Management hold auctions more frequently, aiming to expedite the leasing process and encourage geothermal development.
“We are grateful for the leadership of Senators Heinrich, Risch, Lee and Cortez Masto in introducing this critical legislation,” said Jeanine Vany, Eavor Co-Founder and Executive Vice President of Corporate Affairs. “The Geothermal Energy Optimization Act of 2024 streamlines the permitting process and will advance geothermal energy development on federal lands. As we look towards the energy systems of the future, Eavor’s technology provides carbon-free, sustainable energy development that aids in the decarbonisation of heating and electricity. We also create high-paying jobs and provide grid hardening capabilities – all while using minimal water and land. This legislation will help advance geothermal projects like Eavor’s to become a reality more quickly across the US.”
Geothermal technology, as defined in the bill, encompasses methods for extract-ing heat from the earth's subsurface. This includes drilling hydrothermal project test wells, enhanced geothermal system non-production wells, closed-loop geothermal system calibration wells, and similar subsurface disturbances to assess heat resources for energy production.
Eavor is actively working on projects in Texas, Nevada, and California and recently secured a contract with the US Air Force to explore the potential of the Eavor-LoopTM technology at Joint Base San Antonio. In 2023, Eavor secured a €91.6 million grant from the EU Innovation Fund in support of the world’s first commercial Eavor-Loop project in Geretsried, Germany. The project is expected to yield 64 MW of thermal energy when completed in 2027.
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Read the article online at: https://www.energyglobal.com/other-renewables/18032024/eavor-technologies-welcome-bipartisan-geothermal-legislation/
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