A public-private consortium has confirmed that Tenerife shows strong signs of harnessable geothermal resources beneath Vilaflor. This marks Spain’s first deep geothermal study, reaching depths of 3,000 metres where hot water and high pressure have been detected—key factors for potentially generating electricity from Earth’s heat.
The four-month project, funded 50% by European Union grants through the Institute for Diversification and Saving of Energy (IDAE), has produced promising data. The next step involves assessing the resource’s actual production capacity and establishing the conditions, such as a regulated tariff, needed for its full development.
The event to announce these findings drew prominent figures including Canarian President Fernando Clavijo, State Secretary for Energy Joan Groizard Payeras, and the mayor of Vilaflor, Agustina Beltrán, alongside various scientific and socioeconomic representatives.
Clavijo highlighted the discovery as part of a broader economic development goal, stating, “Geothermal energy can be a strategic ally in achieving sustainable economic development that directly benefits our communities.” He emphasised the financial benefits, arguing that reducing reliance on imported fuel will lower household energy bills and enhance energy sovereignty for the islands.
Groizard celebrated the project, noting it represents the first of nine initiatives in the Canaries supported by the Spanish government and emphasised the importance of public-private collaboration.
Tenerife’s president, Rosa Dávila, declared the project’s transition from hope to tangible results, asserting it offers extraordinary potential to reduce dependency on external energy sources and calling for regulated tariffs to support the next phase.
Meanwhile, DISA’s executive chairman, Demetrio Carceller, underscored the economical aspect, stating that geothermal is a longstanding, cheap renewable resource that could drive growth in the Canaries. He compared the need for a tariff framework to similar systems in the Azores and Germany, which have successfully implemented regulated rates for geothermal energy.
Magnus Ásbjörnsson, CEO of Reykjavík Geothermal, urged caution, recognising the initial positive indicators while acknowledging that geothermal energy has various economic applications beyond electricity generation.
The Canarian government’s ecological transition minister, Mariano Hernández Zapata, linked the initiative to their vision for sustainable energy independence. Iceland’s ambassador to Spain, Kristján Andri Stefánsson, also noted that the project’s symbolic significance extends beyond geothermal energy to foster trust and collaboration for a cleaner energy future.
The findings suggest that geothermal technology could significantly reduce the Canaries’ reliance on fossil fuels, which currently contribute to around 80% of electricity generation. With continuous availability year-round, geothermal energy offers distinct advantages. The consortium believes its implementation could save the Canarian electrical system over €130 million annually.
Tenerife’s geothermal energy consortium, comprising the Canarian government, DISA, and Reykjavík Geothermal, aims to explore and develop the island’s geothermal potential with a project budget of €100 million. This includes €43.2 million in funding from Spain’s Recovery and Resilience Plan and Next Generation EU funds, with the rest financed by the promoters. The consortium aims to position Tenerife as a leader in geothermal production in Spain, ensuring energy security and efficiency while fostering growth across various sectors.
