Reduce the technological risks for the next development stages
Through the proposed project, the technology components of Geo-Coat will reach to TRL 5. There is an underlying strategy to reach TRL 9 by 2024 for each of the underpinning technology concepts of Geo-Coat through four flagship projects classified according to application areas such as, surface equipment (e.g. pipes & vessels) & well casing, downhole pump, turbine and heat exchangers
Significantly increased technology performance
High temperature compatible pump and heat exchanger will dramatically improve the performance of the geothermal plant and provide options to power plant technology designers to increase the overall thermal performance of the plant.
Nurturing the development of industrial capacity
Geo-Coat project will enhance the industrial capacity both in terms of component production and service offerings for geothermal application. European manufacturers of heat exchanger and pump will be inspired to produce coated (PTFE based) CS tube base heat exchanger and Ti MMC based pump respectively.
Contributing to the strengthening of the European industrial base
The pump and heat exchanger manufacturing sector will be significantly benefited from the Geo-Coat which will subsequently enhance the growth of EGS binary based geothermal power sector. If the EU want to achieve the 2030 or 2050 target of geothermal, power EGS sector must be flourished.
Reducing renewable energy technologies installation time and cost
Geothermal power plants are capital intensive and from investor’s standpoint geothermal projects are risky. It is difficult to characterise the Capex of geothermal power, as it depends on the nature of the geofluid, geological condition, and power technologies such as steam, flash, binary etc.
Increasing reliability and lifetime
The operation and maintenance cost of geothermal plant is estimated as 3.5% of the investment cost. An important factor in operating geothermal steam turbines is maintenance. Geo-Coat will be used in turbine components, pumps and valves to extend their service life.
Contributing to solving the global climate and energy challenge
Geothermal project is capital intensive as well as risky and lengthy (5 to 10 years). The inflation and the volatility of material prices could cause further augment of the Capex than earlier estimations which will discourage the investors. The Capex and Opex reduction potentialities of Geo-Coat (as elaborated earlier) will certainly enhance the sustainability of geothermal energy against the inflation and the volatility of raw material and fuel price, which will nurture the growth of geothermal energy sector.
Making variable renewable electricity generation more predictable
The capacity factor of geothermal power is 95% and unlike other renewables its availability does not depend on the seasonal variation or climatic condition which attributes geothermal as a baseload power. Inherent potentialities of Geo-Coat in reducing both Capex and Opex will enhance the sustainability and growth of the geothermal sector in the EU.
Bringing cohesion, coherence and strategy
Geo-Coat activities are related to deep and medium to high temperature geothermal power. The high temperature compatible pump and low-cost heat exchanger with almost doubled thermal performance will significantly contribute in optimum utilisation of geothermal resource and power plant designers will have options to modify existing set up or develop new design to maximise the overall thermal efficiency of geothermal plant.