The Canary Islands will receive 3 million euros in European funds for a project to promote geothermal energy in the Macaronesia.

The Geotermac project, whose main partner is the Volcanological Institute of the Canary Islands, aims to develop methodologies and cooperation tools to strengthen R&D&I capacities in order to contribute to the energy transition in Macaronesia and São Tomé e Príncipe through the development of geothermal energy. The initiative has a budget of three million euros from Interreg MAC.

Feder partners in Geotermac are the Instituto de Inovaçao Tecnológica dos Açores Inova, the Consejo Insular de la Energía de Gran Canaria, the Sociedad de Promoción y Desarrollo Económico de La Isla de La Palma, S.A.U., the Government of the Canary Islands and the Empresa de Electricidade da Madeira SA. Third African Country Partner” are the Direcçao Geral dos Recursos Naturais e Energias de São Tomé e Principe and the Universidade de Cabo Verde.