Vulcan Energy enters into an agreement with Enel Green Power

Vulcan Energy Resources Limited (ASX: VUL) announced that it had signed a binding collaboration agreement with Enel Green Power to develop its Italian project and explore future opportunities for cooperation. Enel Green Power is the largest geothermal energy producer in Italy. Both the companies have entered into an agreement to explore and develop Vulcan's Cesano license in Italy via a joint scoping study. Both companies also agreed to evaluate the opportunity to cooperate on other geothermal lithium projects in Italy.

Further, these companies will assess the potential of the company's Cesano license in a step-wise approach, starting with a scoping study. EGP has already previously explored and drilled a number of wells in the Cesano area and gathered relevant data directly from local reservoirs. After this agreement, the Cesano license area will become co-owned in the same proportion by Vulcan and EGP.

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