A Green Opportunity
Greece lies in a geographic position that is favorable to geothermal resources, both high temperature and low temperature. High temperature resources, suitable for power generation coupled with heating and cooling, are found at depths of 1-2 kilometres on the Aegean islands of Milos, Santorini, and Nisyros. Other locations that are promising at depths of 2-3 kilomteres are on the islands of Lesvos, Chios, and Samothraki as well as the basins of Central-Eastern Macedonia and Thrace.
Low temperature geothermal applications include space heating and in agricultural uses (greenhouse heating, the drying of fruits and vegetables, aquaculture and seawater desalination, and in spas), providing an ideal synergy with other widespread commercial ventures in Greece.
As technological advances allow for the exploitation of lower temperature geothermal resources, found at just a few metres below the ground surface, the heating and cooling of water for domestic use, for
instance, becomes highly viable and attractive. Such applications lessen reliance of non-RES resources, are highly reliable and cost effective, and emit far less carbon dioxide.
Advantages of Investing in Geothermal
Current Feed in Tariffs
|In Euro-MWh||Interconnected System||Not Interconnected Islands|
|Geothermal energy, biomass, waste incineration, biogas||87.85||99.45|
The abundant and cost-effective geothermal resources in Greece are being used in spas, greenhouses, and the drying of fruits and vegetables. And the widespread use of geothermal heat pumps is becoming a booming market.
Today, geothermal resources in Greece are used primarily for greenhouse heating and in spas and generate thermal power of approximately 70MWth.