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IN BRIEF: UK Oil & Gas joins geothermal energy advocacy group

Tue, 27th Apr 2021 16:24

UK Oil & Gas PLC - London-headquartered exploration and production company - Has become one of the six founder members of the Geothermal Energy Advancement Association.

GEAA's mandate is to call for increased awareness of and investment in geothermal energy as a sustainable source for electricity, heat and hot water.

Looking ahead, UK Oil & Gas is scoping two new standalone geothermal projects in the UK, alongside a hybrid geothermal, solar and battery storage project at the Horse Hill site.

"With increased investment and a wider understanding of how geothermal energy can be used, geothermal can become a key part of the UK's low-carbon future," says Chief Executive Stephen Sanderson.

Current stock price: 0.25 pence

Year-to-date change: up 66%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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