Making Idle Wells Productive and Cost Competitive With GreenLoop Technology
GreenFire Energy’s Well Retrofit Solution generates power from existing hydrothermal wells that are idle or underproductive. Globally, over 20% of geothermal wells are underproductive either from inception or due to degradation over time. Well Retrofits comprise a flexible system of components and processes that can be employed in a variety of configurations to optimize geothermal power production from a wide spectrum of well conditions without the risk and cost of drilling.
GreenFire Energy Well Retrofits can restore power to wells with these issues:
Each Well Retrofit is individually engineered using our GreenLoop technology proprietary modeling tools to assess and remediate the issues of that specific well. The resulting system maximizes power generation for the enthalpy, diameter, depth, and flow characteristics of the well. GreenLoop’s innovative technology circulates a selected working fluid through a closed-loop system to absorb heat from coproduced steam and brine. Typically, steam is delivered to the existing low or high-pressure systems, but power can also be generated by a matched turbo-expander/generator installed in close proximity to each retrofit well.
Benefits of Well Retrofit Projects
Business Model Options
GreenFire Energy offers two business models for Well Retrofit projects. With the “Design–Build” business model, the company will contract with a geothermal owner to design and build the project on a fee basis. The geothermal owner will provide project financing. In addition to being reimbursed for direct and overhead costs, GreenFire Energy will receive recurring revenue in the form of royalties for the use of GreenFire Energy IP, and performance bonuses for production beyond an agreed threshold.
In the “Build-Operate-Transfer” model, GreenFire Energy will finance, build, and operate the project for a given period, typically 30 to 60 days. At that point, the project will be sold to the geothermal company at a predetermined price.
Source: International Finance Corp, World Bank Group, 2013.