Binding agreement with leading Italian geothermal group
Continuing to grow and diversify its project development portfolio, Vulcan Energy Resources (ASX: VUL | FSE: VUL) today announced it has entered a binding collaboration agreement with Italy’s largest geothermal energy producer, Enel Green Power (EGP).
EGP, part of the Enel Group, is dedicated to the development of energy generation from renewable sources. A global leader in geothermal energy, it has plants in Italy, Chile and the United States.
Under the agreement, VUL and the Italian renewable energy giant will explore future geothermal lithium opportunities for cooperation. This includes assessing the potential of VUL’s Italian project, the Cesano Permit, in a stepwise approach, starting with a joint scoping study.
The Cesano Permit extends over an area of 11.5 km2, 20 km NNW of Rome. EGP has previously explored and drilled a number of wells in the Cesano area and gathered relevant data directly from local reservoirs, including wells that yielded hot geothermal brine with high lithium values.
VUL and EGP will also evaluate the opportunity to cooperate on other geothermal lithium projects in Italy.
