Greenearth Energy secures new geothermal resource at Geelong

Alexander Richter 22 Ağu 2009

Greenearth Energy (ASX: GER) has inked a maiden geothermal resource for its Geelong geothermal power project. The project is located 11 km northwest of Anglesea which is to the southwest of the city of Geelong.

The independently defined Hot Sedimentary Aquifer (HSA) inferred geothermal resource at Geelong is 17,000 petajoules (PJ).  Consultants Sinclair Knight Merz (SKM) have advised the projected temperature and flow for the planned productive wells would make the reservoir suitable for generation using proven Organic Rankine Cycle power plant technology.

Greenearth Energy’s Managing Director, Mark Miller said, “this is a major step forward in our quest to deliver renewable, sustainable, base load, emissions free energy. Given its location close to our two major Victorian cities,

Geelong and Melbourne, and proximate to existing energy infrastructure the possibilities it presents for both the State and the company are truly exciting.

Miller said, “we have here the potential, over the next few years, to commence the development of Victoria’s first Hot Sedimentary Aquifer geothermal resource that has the potential to deliver clean, safe, renewable energy at the doorstep of our two great Victorian cities, Geelong and Melbourne. It is our mission to work together with all stakeholders to establish Geelong as Victoria’s first renewable energy hub.”

“This resource estimation which has further advanced our characterisation of the geothermal resource has formed a key part of our application for second round funding from the Federal Government’s Geothermal Drilling Program, Mark Miller said.”

The Inferred Resource estimate of “stored heat energy” covers an area of approximately 100 square kilometres (km2). The target reservoir has an estimated volume of 55 cubic kilometres (km3). This resource estimation has the potential to host a significant producing geothermal field.

Source: Proactive Investors