The Western Canada Sedimentary Basin (WCSB) is beginning to be recognized for its massive geothermal potential. BOE Report recently published an article on the emerging recognition. The article states: “There is a recognized potential for geothermal energy projects that could reduce GHG emissions for natural gas projects as well as supplement heating for nearby communities with potential for hydrogen (H2) production using excess geothermal power.”
The article mentions Eavor regarding the “increase in both conventional geothermal companies and unconventional geothermal like Eavor Technologies who are working with closed-loop systems as previously reported in the BOE report.”
There is concern over the costs associated with drilling for geothermal, whether it be for closed or open loop systems. The capital investment required “can make geothermal projects scary for investors.”
Catherine Hickson, the CEO of Alberta No. 1, says closed-loop systems are prevalent in the geothermal industry. She says, “What I think is important right now is innovation. In the geothermal industry, it is vital. Closed loop companies need to prove the commercial viability of these systems with their purpose drilled wells, and that hasn’t been done yet. The question with closed-loop technology is whether or not it can be economic simply because of the amount of drilling that’s required.”
Hickson also shares that a way to overcome the fear around capital investment is to have geothermal projects in Alberta to demonstrate the technologies feasibility. “What we’re trying to say on the geothermal side of the equation is that we can help, we can supplement, we can provide sustainable heat in the long term,” says Hickson.