Overview

Ambition: Geothermal opportunities abound in Alberta – most are already confirmed by existing assets like natural gas wells.

Geothermal offers some of the lowest-hanging economic fruit available right now, given Alberta’s demonstrated capacity for drilling and developing sources of energy and its rich inventory of potential geothermal sites (which includes old oil and gas wells). If Alberta companies like Terrapin Geothermics and Borealis Geopower were empowered to build out 300 megawatts worth of geothermal electricity, along with an array of geothermally-heated district energy networks, it could spark a $3.6 billion economic boom — one that would employ welders, bit suppliers, construction workers, drilling crews, pumping equipment suppliers, and a host of other people and small businesses.

Initiative Status

The EFL featured this initiative as one of the Five Big Ideas for Alberta’s Economic Recovery. View the recording of the virtual conference here.