Drilling for the Slatina 3 geothermal undertaking in Croatia is ready to start by February 2024 as introduced by Cindrigo and Croatia subsidiary Dravacel.
Cindrigo Holdings Ltd. (Cindrigo) has introduced that preparatory work has been accomplished for geothermal drilling on the Slatina 3 website in Croatia. Drilling is ready to start by February 2024, focusing on a recognized geothermal reservoir at 4000 meters depth the place water temperatures approaching 200 °C are anticipated.
All civil works associated to drilling, together with the infrastructure and nicely pad development have been accomplished. The drilling firm, Crosco, has additionally confirmed the readiness of the contracted drilling rig for mobilization. The event of the Slatina 3 geothermal undertaking can be beneath EES Dravacel Energetika d.o.o. (Dravacel), a 90% owned subsidiary of Cindrigo. The allow for the drilling location was secured in late 2022.
Notably, the work programme continues with the assist of the Firm’s largest shareholder, Danir AB (Danir), which has lent a further EUR 3.3 million attracting curiosity at a price of 10% every year. In consideration of the brand new mortgage finance, Danir can even purchase a forty five% oblique curiosity within the Slatina 3 undertaking.
Topic to approval by the Croatian Hydrocarbon Company of the second permitted extension to the Slatina 3 Licence, the second section will embrace finishing the drilling programme and reviewing the nicely information to substantiate all vital parameters together with geothermal circulation charges with the target to maneuver from exploration section to exploitation section.
The Venture and the GT-1 nicely pad are positioned on a property owned by Dravacel throughout the 55 sq. km. (5,500 hectare) Slatina 3 Geothermal License. Preliminary design and layouts of the Dravacel property point out adequate footprint for a 20-MW energy plant and doubtlessly a number of occasions that capability.
Supply: Cindrigo
