A two-day event in Milan to discuss geothermal energy with Enel Green Power

For a day, Milan has become the European capital of geothermal energy. On December 6th. and 7th. the Italian city will host Geopower Europe 2011, the annual conference of the European Geothermal Energy Council. The significance of the event was emphasized by the participation of Enel Green Power’s CEO Francesco Starace. The summit is expected to be full of novelties and in-depth analyses, considering that it reunites stakeholders from the geothermal, political and business sectors at a global level. The experts’ aim is to share ideas and define actions necessary to promote the development of this industry and investments to be made over the coming years.

The agenda of the event includes financial consulting, exploration of non conventional geothermal resources, in-depth analysis of emerging markets and the potential of near-surface geothermal energy. The 45 participating speakers come from leading geothermal companies.

In an interview published on the website of the event http://www.greenpowerconferences.com/, Francesco Starace reaffirmed that Enel Green Power considers the geothermal sector essential for its further expansion and development.

With an installed capacity of 775 MW (12.7 percent of EGP’s total capacity) and a production of 5.3 TWh, EGP qualifies as a leader at a global level in geothermal energy, with a long lasting R&D experience in this technology. EGP aims at maintaining and increasing its leading position at a global level by investing in innovative and efficient solutions like low-enthalpy cycles, heat pumping systems and the integration with other technologies like biomass and solar.

As regards investments, EGP’s capital expenditures in 2010 for the geothermal sector amounted to 180 million euros.

According to Francesco Starace, R&D an technological innovation are key factors for the future growth of Europe’s geothermal industry. It is also essential, he added, that solutions must be found to help small operators face the difficulties originating from the rise of capital costs.