ECONOMY

Geothermal power on talks agenda

Development Minister Christos Folias (center) with Iceland’s Prime Minister Geir Haarde (right) at an event in Athens yesterday promoting geothermal energy. The two countries agreed to work together in the field of geothermal power – energy generated by heat stored beneath the earth’s surface. Folias said Greece has great potential in the energy source, with 30 geothermal reservoirs across the country. According to a report prepared by the Institute of Geology & Mineral Exploration (IGME), Greece’s geothermal resources can produce 250 megawatts in electrical power and 2,000 MW in thermal energy. At geothermal power plants, steam or hot water from reservoirs provide the force that turns the turbine generators and produces electricity.