"The boreholes at Eastgate are an important resource for understanding the UK's geothermal potential".
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| Drilling the Eastgate borehole |
Lafarge Tarmac was planning to sell the £1.4m site at Eastgate in Weardale at auction on Thursday. But the company has now confirmed it withdrew the property from public auction after entering private talks.
Meanwhile, Durham University hopes new owners will continue to explore the site's geothermal potential. Dr Charlotte Adams, research manager for BritGeothermal at the Department of Earth Sciences at Durham University, said: "The boreholes at Eastgate are an important resource for understanding the UK's geothermal potential.
"Geothermal energy can help the UK become more self-sufficient and resilient with respect to energy in the future. "We therefore hope that any subsequent site owner will view the boreholes as an asset and continue to support their use for Research and Development purposes."
