Popular on TelAve


Similar on TelAve

U.S. Department of Energy Selects Two Colorado Companies For Important Geothermal Data Collection Efforts

TelAve News/10907147
DENVER ~ The U.S. Department of Energy's Geothermal Energy Office has announced its support for 21 initiatives aimed at expanding geothermal energy across the country. These initiatives will collect new subsurface data to help deploy more affordable and reliable geothermal energy in the United States. Among the selected entities are two Colorado-based companies, DAVINCI EP LLC and 400C Energy Inc., who will play a crucial role in gathering this data.

Governor Jared Polis of Colorado expressed his excitement about the selection of these two companies, stating that Colorado is leading the way in expanding and deploying low-cost and reliable geothermal energy. He believes that the data collected by DAVINCI EP LLC and 400C Energy Inc. will not only boost investment but also deliver more affordable and reliable geothermal energy in the future, benefiting both Coloradans and Americans.

DAVINCI EP LLC has been tasked with drilling and testing two paired horizontal geothermal confirmation wells in Brawley, California. This project aims to identify parameters that will support commercial-scale development and provide a framework that can be replicated for other similar geothermal basins. On the other hand, 400C Energy Inc. will re-enter and deepen an existing geothermal well in Beaver County, Utah, to determine if the Salt Cove area contains an extension of the nearby Roosevelt Hot Springs hydrothermal system, a high-temperature next-generation geothermal resource.

More on TelAve News
Governor Polis has been a strong advocate for geothermal energy in Colorado, positioning the state as a leader in low-cost renewable energy to save people money and create jobs. As chair of the Western Governors' Association, he launched The Heat Beneath Our Feet initiative, which focused on expanding geothermal energy research and exploration. In 2023, Governor Polis announced Colorado's Geothermal Energy Grants which have provided $9.8 million in funding for various heating and cooling projects as well as electricity efforts. For instance, a geothermal project near Durango aims to offset 20 MW of electricity demand, and with these grants, Colorado Mesa University is expanding geothermal heating and cooling to buildings across its campus. In addition, the state has awarded nearly $43 million to advance geothermal energy since 2023 through the Geothermal Energy Tax Credit Offering. A recent Executive Action by Governor Polis will further streamline permitting for geothermal development and other strategic industries.

Governor Polis has also worked closely with the legislature to pass laws that support the production of low-cost geothermal energy in Colorado. One such law is SB26-142 "Development of Thermal Energy Resources," which streamlines how local municipalities can build thermal energy systems and allows companies to sell their extra thermal energy directly to neighbors. Another law, HB25-1165 "Geologic Storage Enterprise & Geothermal Resources," clarifies regulatory authority across state agencies while ensuring that prior geothermal operations, such as historic hot springs, remain vibrant in the future. In 2024, High Altitude Geothermal joined the Rural Jumpstart Program in Moffat County, Colorado, creating jobs and contributing to the state's clean energy economy.

More on TelAve News
With the support of Governor Polis and initiatives like these, Colorado is well on its way to becoming a leader in geothermal energy production. The efforts of DAVINCI EP LLC and 400C Energy Inc., along with other selected entities, will play a crucial role in expanding the use of this renewable energy source across the country.

Filed Under: Government, State
Show All News | Disclaimer | Report Violation

0 Comments

Latest on TelAve News