Enel extends its geothermal licenses in Tuscany, Italy to 2046

Three sources confirmed on Friday that the Italian region Tuscany will extend Enel’s geothermal energy licenses by 20 more years, until 2046, in exchange for investments of nearly 3 billion euro ($3.15 billion), they said.

Sources claim that the decision could be made as soon as Monday. Enel declined comment.

The geothermal system generates heat within the crust of the Earth. This renewable energy is mainly used for industrial processes, district heating, and electricity generation.

Tuscany is the area where most of the country's sites are located.

Enel has 34 geothermal plants in Tuscany and plans to build three additional ones over the next couple of years. This will increase the installed capacity by 65 megawatts, to 981 MW.

Geothermal energy will cover approximately 40% of Tuscany’s electricity requirements with the addition of these plants.

The agreement, which will be signed soon, will provide resources and investments for municipalities in the geothermal sector, said Tuscany's President Eugenio GIANI on Friday without providing any further details. Reporting by Silvia OGNIBENE in Florence, Francesca Landini and Alisa Williams.

(source: Reuters)