Investor from New Zealand with ambitious geothermal plans for Spain

El Tajo gorge in Ronda, Andalusia, Spain (source: flickr/ Joe Lin, creative commons)
Alexander Richter 10 Jun 2018

An investor from New Zealand has announced ambitious development plans for geothermal projects on six plots in Andalusia, Spain.

In a statement by email, development company GAFO Energy NZ Limited, that has been working with a specific emphasis on geothermal energy has announce development plans for Spain. The company has announced having started exploration work  in Andalusia, Spain on six plots with estimated high potential for geothermal energy production.

Rashad Naqaweh, (CEO) of GNZ – GAFO Energy NZ Limited and chairman of GCG -GAFO CAPITAL GROUP announced GAFO Energy NZ Limited has eyed plans for the expansion and spreading of the network of geothermal energy projects in Europe keeping the necessity and prioritizing the quick demands of people with a projected budget plan of EUR 2 billion taking place in Spain.

GAFO Energy NZ Limited’s management officials have always assiduously worked to achieve new milestones through their professional skills and discussing with the Spanish authorities the final phase of for establishing a 500 MW geothermal energy project that will surely cost an estimated budget of EUR 1.7 billion.  Areas named Espana 1-6 are under investigation as shown.


Source: company information by email