Deep Earth Energy Corp. (DEEP) says it welcomes the announcement from the Canadian Association of Oilwell Drilling Contractors (CAODC) and its clean energy partners to move forward with a plan to expand geothermal energy in Canada.
DEEP made the statement Friday afternoon.
鈥淎s Canada鈥檚 first geothermal company, and the first and only to sign a power purchase agreement with a power utility, DEEP is enormously proud of its contributions to bring this clean energy resource to the forefront. Our drilling success in Saskatchewan is breaking barriers for other geothermal projects, prompting increasing investments from both the public and private sectors,鈥� DEEP said in a news release.
In the midst of this historically impactful oil and gas downturn, and the economic consequences from COVID-19, there is a unique opportunity to quickly leverage oil and gas capabilities and technologies into the geothermal sector while preserving jobs and regional economic viability.聽
If funding was available for geothermal drilling, DEEP would be able to make use of modern oil and gas sector services for test and definition drilling for geothermal energy.聽
Each well drilled would employ dozens of individuals in high paying jobs. This would identify more geothermal resources which can quickly be developed and connected to the grid, and would utilize otherwise unemployed professionals from the service sector.聽
鈥淭his needs to be done before people permanently leave the sector. 鈥�
Geothermal can play an important part in a diversified Saskatchewan energy mix as the province works towards a cleaner Canadian energy future. The same world class Canadian drilling technology and expertise that has supported the oil and gas sector can now be deployed for developing clean renewable energy.
