The project is coordinated by the consulting company Verkishf and is implemented with the support of the Government of Iceland, namely the Sustainable Development Fund, to establish partnerships. The NGO "Geothermal Ukraine" and the company ISOR are project partners.
The project aims to assess the potential, select promising candidates, and prepare preliminary technical and economic justifications (TEO) for the direct use of geothermal energy in the three most promising western regions of Ukraine: Zakarpattia, Lviv, and Ivano-Frankivsk. It is expected that the project will prepare three business cases related to such direct applications of geothermal energy:
The potential of Ukraine's geothermal resources has already been partially explored, and the project will rely heavily on already published scientific articles, reports, and factual data on geothermal, oil, and gas fields/areas. The main focus will be on assessing and selecting objects for the next technical-economic justification regarding the reprofiling of decommissioned oil and gas wells into geothermal ones, the use of shallow hydrothermal resources for balneological purposes and SPA.
The project will result in modern research and preliminary TEO for selected areas within the specified regions, including collected data on resource assessment and technical concepts, preliminary economic modeling, and recommendations for the next steps for the commercial deployment phase. Within the project, partners will analyze potential energy demand and the market, as well as participate in dialogue with local stakeholders. In the long term, the project results are seen as an opportunity for the development of clean energy and may have a favorable impact on the industrial and economic growth of Ukraine.
