Geothermal energy is looked upon as a renewable energy source. One of the most important prerequisites for financially healthy geothermal power plants is cost control connected with the construction of geothermal wells. In all essentials, these wells are constructed in the same way as oil and gas wells, but are more demanding because of the high temperatures and hard rock. IRIS Energy sees great opportunities for using the competence in drilling and well on geothermal wells, and during the course of 2015 it received financing for three projects linked to geothermal drilling: “GeoWell”, which is an EU project together with a large European research consortium, “Feasibility of deep geothermal drilling in Ålgård” and the EnergiX project “INNO-Drill”. IRIS Energy is also part of the FME application GeoS and is responsible for the work package on drilling and well.
CO2 storage and the use of CO2 is an important part of the IRIS renewables portfolio. We are active participants in both national and international networks. IRIS took part in the preparation of the FME ATHENA application, which is led by Uni Research. IRIS is a full member of EERA (the European Energy Research Alliance) JP CCS and is on the Executive Committee of CO2GeoNet. Both networks are in close dialogue with the European Commission, organise and participate in conferences, hold courses and apply for EU funding for research projects.
REPP-CO2, which is financed by Norway Grants, is our largest CO2 project. It is led by CGS (the Czech Geological Survey), but IRIS has a large part of the project. IRIS contributes in geology and reservoir modelling and in risk management. The project is being implemented in 2015 and 2016 and is aimed at a CO2 storage project in the Czech republic.