Under pressure - UK Deep Geothermal Industry Faces Uncertain Future (Business Green)
When the UK government pulled a multi-million pound grant from Geothermal Engineering Ltd last week, it seemed as if the final nail had been banged into the coffin for the UK's first commercial hot rocks scheme.
The £50m United Downs project was expected to supply 10 MWe of electricity to the grid and 50 MW of renewable heat for local homes and businesses. It could also have helped trigger further private investment in the fledgling industry, which according to estimates could meet one-fifth of the UK's electricity demand, while also providing over 100 GW of heat.
The project had been been granted £6m of funding from the Regional Growth Fund, but the government last week axed the funding because the company failed to secure the necessary additional investment to meet the terms of the grant.
Read More.....
