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Chelsea Building Society bought the disused land around 2004 and built a second smaller head office to contain its expanding head office operations, which won environmental awards for its use of geothermal heating, green building and "green" credentials.
The proposed renovations also include a geothermal heating and cooling system, allowing the project to be certified as LEED gold certified.
It originally referred to the well-known subglacial outburst floods from Vatnajökull, Iceland, which are triggered by geothermal heating and occasionally by a volcanic subglacial eruption, but it is now used to describe any large and abrupt release of water from a subglacial or proglacial lake/reservoir.
The potential for geothermal heating using the source aquifer arises from the Gotland tectonic belt and Polotsk–Kurzeme fault belt interface in the area, which generates thermal anomalies.