Across the globe, momentum is building behind geothermal energy. In the US, the Biden-Harris administration identified it as one of the crucial components of facilitating a carbon-neutral grid by 2035, recently committing a further US$31mn to six geothermal projects across the country.
The European Union (EU) has made clear its position to wean itself off of Russian gas following the invasion of Ukraine and has made fair progress so far with the share of Russia’s pipeline gas in EU imports dropping from more than 40% in 2021 to around 8% in 2023.
The potential of geothermal energy increases the further down a project goes, allowing it to access hotter resources.
Situated just outside of Hinton, Alberta, the groundbreaking initiative represents a major step forward in geothermal energy development. With construction set to begin in early 2025, the project will drive both sustainable energy solutions and agricultural growth.