Eden Geothermal Ltd has been set up by three partners: Eden Project, EGS Energy Ltd, and Bestec (UK) Ltd to unlock the geothermal energy deep in the granite beneath Cornwall.
Eden Geothermal has secured funding of £9.9m from the European Regional Development Fund, alongside £1.4m from Cornwall Council and £5.5m from institutional investors to drill a 4.5km deep well at the Eden Project, and heat its famous Biomes, greenhouses and offices. This is the first phase of a two well development. It will pave the way for the second phase: another 4.5km well and an electricity plant.
By unlocking natural geothermal energy we are paving the way for a more sustainable future.
Why geothermal energy? The climate emergency means that our energy system must be entirely revised.
By 2050, in the working life of anyone in their mid-thirties, greenhouse gas emissions in the UK will be net zero, and to achieve this, all electricity and heat will have to be as close to zero emissions as possible.
From a slow start, low carbon energy development in the UK has picked up in recent years, with 16 straight coal- free electricity days in May and June 2019. But it is a huge task to get to and stay at zero emissions, and concerns about the intermittency, visual intrusion and land take and of renewables on one hand, and the cost and security issues around nuclear on the other, mean that new technologies are needed.
Geothermal energy is a renewable source of power and heat…
- that runs 24 hours a day, whatever the weather,
- on the smallest surface footprint of any energy source,
- with no buildings higher than 10m,
- that could supply the UK with 20% of its electricity needs,
- and can help support the electricity grid with despatchable power
Find out more here.