For all who are still a bit hazey on the dynamics of this concept keep an eye out for "Steam Drillers" on Nat Geo on pay TV. It covers a broad range of geothermal power producing plants and ideas.
One thing that concerns me is the water supply for the wells: where is it going to come from. The existing water in the substrate will not last forever and how much more do you need to pump down there to keep the system working optimally. Going off the plants already in operation the losses regarding water is extremely high due to evaporation and remember the location of the wells is not exactly high rainfall country.
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