A geological fault line that stretches along the fringes of Dublin could provide thousands of homes with cheap sustainable heating and electricity through geothermal energy, it has been claimed.
Geothermal Energy Ltd, a company based in Rathcoole, Co Dublin, will unveil plans today to explore an area around the villages of Rathcoole and Newcastle in Co Dublin, which was identified as a potential major energy source three years ago.
Deep geothermal energy involves drilling to depths of 2,000- 6,000 metres to water that is kept at extremely high temperatures and pressure. The water is conveyed to the surface by means of two pipes.
While shallow geothermal energy is common in Ireland, and powers public buildings like the Tralee Motor Taxation Office, a project of this magnitude has not been attempted here before.
Geothermal Energy estimates that a district water system could be supplied to 5,000 homes in the Newcastle-Rathcoole area, while the steam generated from the geothermal process could provide four megawatts of electricity, enough to power nearly 14,000 houses.
A similar project in the south German city of Unterhaching, using a geothermal energy source, is providing heating and electricity for 22,000 people.
The company, which is the only one involved in deep geothermal energy projects in Ireland, says it is hoping to raise the initial costs of €22 million from private investors, though an electricity generating station would push the costs up by a further €12 million.
Initial exploratory drilling has already taken place in the area and the company is hoping that an optimum drill site will be identified by next summer. The project could be up and running by 2010, it is claimed.
Geothermal Energy director Pádraig Hanly said the project could generate an inexhaustible level of renewable energy that would be completely reliable and carbon-free.
"This is fully sustainable and environmentally friendly. The type of electricity generated would be base load electricity, which means it is not like wind, tide or solar energy. It is constant and is always there," he said.
"We would hope to be competitive on price. The energy we would generate wouldn't be open to international influences like a war in Iraq."
The fault line, which stretches from Blackrock on the coast to Newcastle, was identified as a potential geothermal source in a major geological study carried out by the CSA Group for Sustainable Energy Ireland three years ago.
The study found that Ireland's geothermal potential was "a significant economic resource with potential for commercial development", though it needed further research.
A spokeswoman for Sustainable Energy Ireland said deep geothermal energy is an area with potential, when the costs of accessing the resource are balanced by a demand for heat.
She said: "[Geothermal energy] could potentially offer a heat only or combined heat and power solution to dense urban or commercial areas and form an important element of the renewable energy mix for Ireland going forward."
Geothermal Energy says its proposals are not related to attempts by a developer to rezone 425 acres of agricultural land around Newcastle for development - plans that were rejected by South Dublin County Council earlier this month.