Geothermal energy advancing.
A BCC Research report projects strong growth for geothermal energy around the world from 2015 to 2020.
The report said total global installed capacity in 2015 was 12.2 GW (market value $12.9 billion) for geothermal energy, which is generated from within the earth, including molten magma, hot rocks and hot water found beneath and at the surface.
North America leads the way with 41.8 per cent of the global market, or 5.1 GW, followed by Asia-Pacific with 38.5 per cent and Europe 17.5 per cent.
According to the BCC study, geothermal energy will grow at a compound annual growth rate of 10 per cent from 2015 to 2020, meaning the value of geothermal energy globally will reach nearly $20.8 billion in 2020.
Among states that have a high percentage of their electricity coming from geothermal energy are Kenya, Iceland, El Salvador and New Zealand. Kenya has 32 per cent of its power sourced from that kind of energy, Iceland (30 per cent), El Salvador (25 per cent) and New Zealand (17 per cent). Data from BP, the integrated oil and gas firm, show that the US has geothermal installed capacity at 3.5 GW, the largest in the world.
Among recent developments, Vallourec is delivering close to 1,500 tonnes of seamless OCTG (oil country tubular goods) to Geothermie Holzkirchen GmbH for a geothermal power project at Holzkirchen, in Bavaria, Germany, which is planned to start operating in 2017.
The project calls for the drilling of two wells to a depth of nearly 5,000 m. This initial well will bring the geothermal water to the surface at a temperature of 140[degrees]C. A steam generator and heat exchanger will then transform this hot water to produce electricity and heat. Once cooled, the water will then follow its loop back down into the calcareous aquifer, descending through the second well.
The OCTG will be used to consolidate the wells being gas-tight and designed to resist harsh conditions - temperatures over 180 [degrees]C and external pressures up to 743 bars.
Meanwhile, European states are keen on assisting India in tapping into geothermal energy. Iceland, a major player in the geothermal power sector, is interested in building two such power plants, including a 5 MW plant in Jammu and Kashmir in India's north and a 10 MW plant in Chhattisgarh, in its central region. Icelandic Foreign Minister Gunnar Bragi Sveinsson said: "Icelandic companies have the expertise and experience in harnessing geothermal energy. They are keen to have partnerships with Indian companies - private and state-owned - and invest in the Indian market."
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