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| September 11, 2007
Alcoa Signs Agreement to Support Geothermal Power Research Project in Iceland
Success of Project Could Yield Abundant, Clean, Naturally Renewable
Energy Worldwide
NEW YORK--(BUSINESS WIRE)--Alcoa announced today that it has made a significant contribution to a
research and development program in Iceland that if successful could
lead to a major step forward in the economics of developing
high-temperature geothermal resources worldwide.
Geothermal energy is derived from underground water heated naturally by
contact or close proximity to molten rock, deep beneath the earth’s
surface.
Supported by Alcoa, the Iceland Deep Drilling Project (IDDP) consortium
will collaborate on a deep drilling pilot project which will investigate
the economic feasibility of producing energy and useful chemicals from
geothermal systems at what are known as “supercritical
conditions”. Essentially, these are natural
systems where underground water becomes super-heated by close proximity
to almost molten rocks.
Supercritical (high-temperature) geothermal systems could potentially
produce up to ten times more electricity than the geothermal wells
typically in service around the world today.
In signing the agreement with the research consortium, Bernt Reitan,
Alcoa Executive Vice President, said, “We are
drilling towards the future. Geothermal energy is exactly what the world
needs to tap into almost limitless, clean, natural energy and to
substantially reduce greenhouse emissions.
For Alcoa’s part, if we could connect
supercritical geothermal energy to our world class aluminum smelting
expertise, and the metal’s unrivaled ability
to reduce greenhouse gas emissions generated by such things as
transportation, then we are really beginning to make a difference that
will be beneficial all over the world.
The technology we hope to develop in Iceland should be applicable where
ever there is high temperature geothermal potential,”
he said.
The IDDP consortium is composed of three leading Icelandic power
companies: Hitaveita Sudurnesja Ltd.; Landsvirkjun; and Orkuveita
Reykjavikur; together with Orkustofnun (National Energy Authority) and
Alcoa.
To produce energy from supercritical fluids, requires drilling to depths
of 4 to 5 km (13,000-16,000 ft) in order to reach fluid temperatures of
400–600°C. (750-1100°F).
Today, typical geothermal wells are about 2 km deep, (8,000 ft), produce
steam at about 300°C,
(570°F) -- a rate sufficient to generate
about 5 megawatts of electricity. It is estimated that producing steam
from a well penetrating a reservoir at or above 450°C
(840°F) temperature and at a rate of 0.67
cubic meters (24 cubic feet) a second, could generate 40-50 megawatts of
electricity.
Each of the power companies, which financed the pre-feasibility study
completed in 2003, have committed to drill at their own costs one
3.5-4.0 km deep well in a geothermal field they operate. These wells
will be designed for deepening to 4.5-5.0 km. One of the wells selected
for further deepening is a joint IDDP-project funded by the consortium
with additional funds from the International Continental Scientific
Drilling Program, an international foundation based in Germany that
supports drilling on land for scientific research, as well as the U.S.
National Science Foundation.
The first wells will be drilled in 2008 at Krafla in north-east Iceland
and tested the following year. Two new wells, 4 km deep, will then be
drilled at Hengill and Reykjanes geothermal fields during 2009-2010,
and, subsequently, deepened. Pilot plant testing is expected to be
completed in 2015.
About Alcoa
Alcoa is the world's leading producer and manager of primary aluminum,
fabricated aluminum and alumina facilities, and is active in all major
aspects of the industry. Alcoa serves the aerospace, automotive,
packaging, building and construction, commercial transportation and
industrial markets, bringing design, engineering, production and other
capabilities of Alcoa's businesses to customers. In addition to aluminum
products and components including flat-rolled products, hard alloy
extrusions, and forgings, Alcoa also markets Alcoa®
wheels, fastening systems, precision and investment castings, structures
and building systems. The company has 116,000 employees in 44 countries
and has been named one of the top most sustainable corporations in the
world at the World Economic Forum in Davos, Switzerland. More
information can be found at www.alcoa.com
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