Investment-friendly terms included in new geothermal framework

New legal framework intended to encourage investments in the geothermal sector by reducing bureaucracy through simpler geothermal field categorization procedures and greater clarity of terms and conditions has been incorporated into an energy ministry multibill headed for parliament today.

The geothermal sector’s new legal framework is intended to maximize the country’s potential in this domain.

According to the energy ministry, Greece’s geothermal fields can cover a series of energy needs such as fish farm and greenhouse heating, agricultural product drying, domestic heating and cooling, water desalination, and swimming pool heating. The sector can also play a key role in the energy independence of regions, the ministry added.

The new geothermal framework includes a 10 percent annual fee on geothermal licenses for injection into municipal coffers in regions where geothermal operations are developed.