GT Energy to start on first phase of geothermal scheme

GT Energy, the Irish geothermal firm, is to invest £450,000 in the next phase of its planned energy plant in Manchester after winning planning approval.

The Dublin-based company wants to harness heat from hot water 3,200 metres below Ardwick and plans to start by drilling two exploratory boreholes that would subsequently be used as operational wells.

If all goes to plan it could become the UK’s first large-scale geothermal plant and be the focus of a low-carbon economic zone in the area.

It has partnered with the German energy company E.ON to tap a natural energy reservoir beneath the city known as the Cheshire Basin from a council-owned plot of land on the corner of Devonshire Street and Coverdale Crescent, close to the O2 Apollo venue.

GT Energy recently raised more than £1.7m from new and existing shareholders. The funding round was led by the Low Carbon Innovation venture capital fund (LCIF), supported by the European Regional Development Fund (ERDF).

Managing director Padraig Hanly said: “The successful completion of this funding round maintains the good progress of the Devonshire Street geothermal heat project. We will be working with our contractor Erdwerk, which is highly experienced in deep geothermal development in Germany. From here, we expect to move from planning permission to a position where we will be ready to break ground on the site in spring 2015.”

The company said a network of pipes will take the heat from deep underground to city centre homes and businesses and the project should create 100 jobs.
 

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