Geotermica, which is a trade name of Renewable Ventures Nordic AB is in the process of revitalising a Geothermal energy project on the Eolian Islands in the Sicily region of Italy. The license for this project was initially applied for in 2011, and it was awarded by the authorities to the competing company K Energy Srl. Lately the authorities in Sicily have ordered this license to be revocated, i.e. withdrawn. As the second original applicant Geotermica now comes in the position for the award of the license. We are preparing necessary legal action to enforce our application and expect to be able to sign the license during 2019. Following this, the operation will be ramped up, starting with exploring the geothermal energy resource, and involving a planned collaboration with local electricity companies in Sicily and the Eolian Islands. The project is targeting to supply current electricity consumption on the Eolian Island, with an installed geothermal production capacity of 4 MW.
Project postponed until further notice.