In an article published in Newsweek, Eavor Executive VP Origination Robert Winsloe describes Eavor’s evolving global viability and widespread appeal.
Winsloe explains that rather than relying on hot aquifers, which accounts for about 5 percent of the world’s surface, Eavor’s approach is to harness heat that is accessible across the planet; heat from hot subterranean rock. This makes Eavor’s technology globally scalable, with the possibility to implement local energy autonomy almost anywhere in the world.
This has allowed Eavor’s technology to mature and commercialize. Winsloe explains that Germany was an attractive destination for commercialization due to the country’s consistent support through a long-term feed-in tariff of €252/MWh. Winsloe also comments that this commitment not only ensures financial stability but also long-term investments, especially as major German cities transition away from district heating networks that rely on fossil fuels.
Beyond European ventures, Winsloe elaborates on ambitious endeavors in the United States, citing projects underway in the geologically rich Western states.
“Given the U.S.’ attractive geology in the Western states, we have a series of projects underway, the first one in Nevada, where last year we signed a $70/MWh power purchase agreement with the goal to produce 200MW to replace the power coming from the local coal fired power station,” said Winsloe.
Eavor also has ambitions to implement Eavor-Loop™ technology in California’s Geysers field, where the company has signed a cooperation agreement with Sonoma Clean Power. This region, characterized by water scarcity and abundant seismic activity, proves to be an optimal location for Eavor’s systems, as there is no fluid exchange within the system and no risk of induced seismicity.
The global allure of Eavor-Loop™ technology extends beyond North America and Europe, as Winsloe reveals that Eavor’s global allure also extends to Australia, New Zealand, Japan, and Saudi Arabia. A part of this allure lies within the broader utility of geothermal energy systems.
“Ultimately, geothermal energy can also be used for cooling, so our systems could be useful in the Middle East and North Africa for district cooling or agriculture in the hot dry climate,” said Winsloe.
Eavor’s ground-breaking technology has transcended geographical boundaries, leaving an indelible mark on the world stage. This revolutionary approach has the potential to reshape the global energy landscape, offering sustainable solutions for a diverse array of regions and applications.
