BNG Bank supports research into geothermal energy at Delft University

BNG Bank is contributing to a chair in geothermal energy at Delft University of Technology. In doing so, the bank is seeking to stimulate the development of geothermal energy in the Netherlands.

On 29 November 2018, the province of South-Holland, Energie Beheer Nederland, Eneco, ECW (private grid operator for large-scale horticulture), Hydreco Geomec (expert in geothermal energy systems), Huisman (global supplier of innovative technical solutions) and BNG Bank signed an agreement to finance the chair (see photo below).

The talks for appointing an assistant professor for the new chair are in progress. Together with dozens of PhD students, postdocs and other students, he will look for answers to scientific and technical questions in the field of geothermal energy. These questions will concern, for example, the composition of the subsurface, risks surrounding the drilling into heat sources, drilling techniques, which fluids can best be used to determine the economic feasibility of geothermal energy and scaling up activities to use as much geothermal energy as safely as possible. Of course, the team has a direct link with the planned geothermal energy well at the Delft University of Technology campus and with the Geothermal Energy Innovation Centre being developed in Rijswijk.

The development of sustainable, local heat sources such as geothermal energy is of great importance for the sustainability of the heat supply. The Paris climate agreement and the phasing-out of natural gas means that the use of other heat sources is set to increase enormously in the coming years. With this new alliance, the parties are aiming to utilise heat from the subsurface for use in heating networks, in addition to residual heat.

BNG Bank has already financed several geothermal energy projects and expects to continue doing so in the coming years. 'In recent years BNG Bank has become more proactive on sustainability. Instead of waiting until clients approach us, we actively seek ways to accelerate the energy transition. Geothermal energy can play an important role in achieving this. That is why we are very pleased to support this chair’, says Olivier Labe, member of BNG Bank’s Executive Board.

PICTURE: TU DELFT/HERMAN ZONDERLAND