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Community plans to crowdfund geothermal power plant

03/08/2017
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Beneath the soil of Cornwall lies a geological formation known as the Cornubian batholith. It’s a mildly radioactive formation that makes harnessing geothermal power in the county a distinct possibility. Now the United Downs Geothermal Project located in Redruth, Cornwall wants to turn that possibility into a reality with the help of crowdfunding.
The United Downs Geothermal Project is harnessing the power of crowdfunding to build the UK's first commercial geothermal power plant
A screenshot of the United Downs Geothermal Project’s crowdfunding page.

The brains behind the project state that the plant will be able to generate 10MW of electricity which will be sold to the National Grid and 55MW of thermal energy to be distributed locally. The plant will be a continuous producer of power, requiring no fuel to operate.

The project is being led by Geothermal Engineering, founded by Ryan Law who possesses a strong track record as a geothermal engineer.

The project as a whole requires around £18m to reach completion. Already, the project has been granted £10.6m from the EU and has received a £2.4m loan from Cornwall Council. The remaining cash is expected to come from crowdfunding. At the time of writing the crowdfunding effort was on course to reach its target.

During the 18 month development phase a production well and injection well will be drilled and tested before the power plant is constructed above ground. On completion it is expected that the power plant will be in a position to provide homes with a continuous supply of electricity, with little to no emissions, by circulating naturally heated and pressurised water to power turbines.

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Community plans to crowdfund geothermal power plant - Time to read 2 min
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