Portugal offers EUR 2.1m in geothermal financing

The Portuguese government approved on Sunday three financing lines totaling EUR 2.1 million (USD 2.45m) to support geothermal projects.

Launched and operated by the Innovation Support Fund (FAI), this initiative has as its main objective the increase of the use geothermal energy in the country.

The largest of the three funding lines, for total of EUR 1.7 million, is intended for projects such as the development and expansion of the heat distribution network or the connection of new users to the said network, the government said.

The other two lines are intended to finance technical or scientific studies so that Portugal can better understand its geothermal resources. The first of these two is a EUR-300,000 support line to assess the hydrothermal exploration and geothermal resources potential for temperatures above 25 degrees centigrade.

The other line, EUR 100,000 total, is for the elaboration of geothermal cartography for the integration and updating of the National Geothermal Atlas, the government noted.

(EUR 1 = USD 1.17)

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