On June 25, 2019, the National Agency for project management under the President of the Republic of Uzbekistan and the Finnish company «KaukoInternational» signed a Memorandum of Understanding on the development of the energy sector by attracting investment and introducing sustainable, reliable and affordable energy production technologies. The document assumes the use of a solution that based on geothermal energy, as well as a joint search for ways to use geothermal energy sources in the republic.
For reference: geothermal energy is a sustainable, affordable, efficient and reliable method of generating electricity. These characteristics make it the best solution for countries that are looking for reliable solutions for energy production and reduce their dependence on fossil fuels.
The proposed solution is based on Finnish innovative drilling equipment, which revolutionized the speed of drilling, on average, 2-4 times. This reduces financial costs and time while drilling to a depth of 4-7 km which leads to significant risks. The innovations used in the drilling and exploitation of sources also increased the efficiency of geothermal energy production.
Production of geothermal energy is planned to be carried out in the framework of partnership: the state as the body that determines the main policy of the project (energy price, taxation, etc.), as well as the place for the project and the form of electricity generation and private sector – attracting investments, necessary knowledge, technologies and financing for planning, building and operating a geothermal power plant.
For reference: The power factor is the ratio of the electrical energy produced by the generating unit for the period in question to the electrical energy that can be generated with continuous full power operating during the same period.
Source : https://napm.uz/en/press_center/news/napm-with-finnish-kaukointernational-plan-to-develop-geothermal-energy/