Weekly Newsletter

07 August 2023

Weekly Newsletter

07 August 2023

UK’s first deep geothermal power plant to be built in Cornwall 

Once operational in late 2024, the United Downs geothermal project will deliver around 3MWe of baseload renewable electricity and up to 10MWth of zero-carbon heat.

Oliver Gordon August 03 2023

Italian cleantech company Exergy International will team up with the UK’s Geothermal Engineering to construct the first deep geothermal power plant in the UK, located at the United Downs Deep Geothermal Power project in Cornwall. By late 2024, the project should deliver around 3MWe of baseload renewable electricity and up to 10MWth of zero-carbon heat for a large housing development at the newly developed Langarth Garden Village.

Exergy will construct an Organic Rankine Cycle power plant for the project, which will use a highly efficient Radial Outflow Turbine to produce electricity, exploiting the heat of the geothermal fluid. The condensing system chosen is air-cooled to avoid any water consumption and, being a closed-loop cycle, the power plant will not release any vapour into the atmosphere. The system will be delivered in 18 months and, once operational, will save more than 6,500 tonnes of CO₂ emissions a year compared with the production of conventional fossil fuel power

The United Downs project, located near Redruth, will tap into the naturally heat-producing granite that underlies most of Cornwall. Two deep, directional wells have been drilled for the purpose: the production well to a measured depth of 5,275m – the deepest onshore well in the UK – and the injection well to 2,393m. The naturally heated geothermal fluid will be pumped to the surface, passed through the power plant to produce electricity, then returned underground via the injection well where it will percolate through the granite to reheat.

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“Geothermal heat is an untapped renewable resource with the potential to provide huge amounts of energy-efficient and carbon-free electricity and heat,” said Ryan Law, CEO of Geothermal Engineering, in a press statement. “Exergy is well known globally for their competence in the binary geothermal power sector and we are very pleased to be working with them on this landmark project in Cornwall. Our long-term agreement with Exergy will also enable us to develop a number of additional projects both in the UK and abroad.”

ESG 2.0 marks a shift towards stricter environmental rules

ESG is moving into a different era, which we call ESG 2.0. While ESG 1.0 was driven by voluntary corporate action, spurred by pressure from activist consumers and investors, ESG 2.0 is being driven by a new wave of government policies. The EU has taken the regulatory lead, with rules introduced or in the pipeline that will price emissions, regulate the use of the terms ‘ESG’ and ‘sustainability’ in marketing materials, and make ESG reporting mandatory. The US has taken a different approach, favoring less regulation and more financial support in the form of tax breaks for clean industry (renewables plus nuclear and hydrogen). China is planning to expand its emissions trading system to more sectors, decarbonize its heavy industry, and ramp up its use of renewables. The new policy direction is mainly motivated by the ambition to hit net zero emissions targets. But on top of this, governments are now competing for clean industry and trying to challenge China’s leadership on the production of the world’s green technologies such as solar panels and batteries, as well as the production and refinement of materials needed for energy transition such as lithium. These driving forces are leading to policy that will impact every sector, not just heavy industry, and will keep ESG near the top of the regulatory agenda over the longer term.

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