11 March 2010 – Australian geothermal company Petratherm has signed an agreement with the Madrid Regional and Spanish governments to progress an 8 MW Madrid Geothermal District Heating (GDH) project.

The project is one of several being moved forward by Petratherm, following formation of a partnership with Enel Green Power, part Europe’s second largest utility, Enel, to develop new and existing electricity producing projects across Spain and Portugal.

Madrid’s GDH project was highlighted as one of six renewable energy projects of interest within the Madrid Regional Government’s Renewable Energy Cluster, which is seeking to advance renewable energy projects in the region.

Italy-based Enel Green Power is a world leader in geothermal power generation with more than 800 MW of capacity operating and a further 300 MW in development. Petratherm also has four geothermal investigation permits covering areas within the Valles and Abro Basins near the city of Barcelona.