Reykjavík Geothermal, in partnership with DISA, has secured licenses to develop geothermal power projects in Tenerife, a significant milestone in the region’s shift towards renewable energy. Formed in 2023, this strategic partnership aims to bring geothermal energy to the forefront, with the licenses confirmed for two major projects in Tenerife and plans for an additional project in La Palma pending the outcome of a public auction.
The collaboration between Reykjavík Geothermal and DISA addresses the Canary Islands’ pressing energy needs, where over 80% of electricity is currently generated from imported fossil fuels, contributing substantially to carbon emissions. Together, the companies will work to harness geothermal resources as a renewable and stable source of baseload power, reducing the islands’ dependence on imported energy.
DISA, a leader in its field in the Canary Islands, is the largest investor and distributor of renewable energy in the region, brings extensive local expertise and a longstanding commitment to sustainable development. By joining forces with Reykjavík Geothermal, renowned for its international experience in geothermal development, the partnership is well-positioned to pioneer geothermal solutions that are clean, reliable, and economically viable.
This initiative represents a crucial step toward the Canary Islands’ transition to renewable energy, with the potential to lower energy costs and support regional and EU sustainability targets. By spearheading this shift, Reykjavík Geothermal and DISA are setting a new standard for renewable energy in the Canary Islands, leading the way towards a cleaner, more resilient energy future.
—
About DISA
DISA is an integrated energy provider with more than 90 years of experience. It has a team of nearly 5,000 people operating in Spain, Portugal, and Uruguay. It is the leader in the energy sector in the Canary Islands, the region where it was founded, and has also become a key driver of the energy transition there. Over the last decade, DISA has focused its investments on the development and production of renewable electricity, harnessing solar and wind energy. It is currently conducting robust studies to explore the introduction of geothermal energy in the Canary Islands, a volcanic territory with great potential for utilizing subsurface heat as a renewable energy source.
