Drilling of new well planned for Efri-Reykir geothermal project, Iceland
Efri-Reykir geothermal plant, Iceland (source: Baseload Capital Iceland)
Carlo Cariaga
12 Jul 2022
The partnership of Baseload Capital Iceland and Varmaorka has received the approval for drilling of well ER-24 which will support geothermal power and heat generation at the Efri-Reykir project.
Baseload Power Iceland and Varmaorka ehf. have announced that they have received all required approval to begin drilling a new well (ER-24) in the Efri-Reykir geothermal project in Bláskógabygð, Iceland. If successful, well ER-24 will support the 2.5 MWe geothermal binary power plant that supplies baseload electricity and heat to over 2000 local homes and businesses.
Efri-Reykir is a primary medium-sized enthalpy prospect located in the south of Iceland in an area with several active geothermal wells. The ER-24 well will be drilled close to its sister well, ER-23, which was established in 1988 and has consistently produced around 36 kg/s ever since. If successful, ER-24 will, together with ER-23, support the development of the Efri-Reykir Geothermal Project.
The operations of Efri-Reykir was part of the international expansion of Baseload Capital, we first reported in 2021.
The contract was awarded to Iceland Drilling earlier this year to drill the ER-24 to a vertical depth of approximately 750m.
“Varmaorka is pleased to announce the new well at our Efri-Reykir prospect. Together with the existing ER-23 well, ER-24 has the potential to double the resource and energy generation of this project”, says Jón Örn Jónsson, Project Manager at Varmaorka.
“At Baseload Power, we want to be a catalyst for developing and financing sustainable geothermal projects in Iceland. Efri-Reykir is a major project, it is environmentally friendly and in full cooperation with the local community aiming to produce both power and heat with high efficiency. Once completed, it will provide base load power that is affordable and in harmony with the community. That is the key for us in selecting projects – our goal is to create resilient societies and a planet in balance,” says Alexander Helling, CEO of Baseload Capital.
Source: Baseload Capital Iceland
