The provincial government is investing $750,000 for a feasibility study towards bringing a geothermal test site to Alberta.
This study will be led by Eavor Technologies, which includes identifying a site, business planning, research on the governance model, and an economic impact analysis.
“Alberta has been a global energy leader for more than a century, renowned for our skilled workforce, innovation and one of the largest oil and gas reserves on the planet,” said Rebecca Schulz, minister of environment and protected areas. “The proposed Alberta Drilling Accelerator presents enormous potential to help our province lead the next wave of energy projects here at home and around the world that reduce emissions, create jobs and enhance energy security.”
If built, this test site would be the first of its kind in Canada, with the site helping companies test and develop new geothermal drilling techniques. If the project gets approval from the province, the facility could start drilling as early as 2025.
Geothermal energy uses heat within the Earth for power, which leads to few emissions and environmental impacts. Alberta serves as a national leader in geothermal innovation.
Geothermal investment is expected to reach $1 trillion by 2050.
