Deep geothermal exploration reaches 3,000 meters in Tenerife with IDAE financing

Type: Financing · Technology: Geothermal · Country: Spain · Announced: 2026-09-17

A deep geothermal exploration well in Vilaflor, Tenerife, reached 3,000 meters depth and detected high-pressure fractures and temperatures exceeding 100°C, indicating a potential hydrothermal reservoir with energy utilization potential. The project, considered the deepest geothermal drilling in the Canary Islands and Spain since the 1970s, received 14.5 million euros in funding from the Instituto para la Diversificación y Ahorro de la Energía (IDAE) through Next Generation EU funds under the Recovery, Transformation and Resilience Plan (PRTR). The drilling is being executed by Energía Geotérmica de Tenerife (EGT), a public-private consortium comprising the Cabildo de Tenerife, the DISA group, and Reykjavik Geothermal, which contributes Icelandic geothermal expertise. The consortium is part of the VIAGEO program by IDAE, which also funds eight other geothermal exploration projects across Tenerife, La Palma, and Gran Canaria, with a total investment exceeding 100 million euros from PRTR funds. The exploration aims to determine if the Canary Islands' subsurface geothermal resources are sufficient for stable renewable electricity generation, potentially reducing the archipelago's dependence on fossil fuels in its isolated electricity system.

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