Greenearth Energy Ltd
Greenearth Energy Limited is an Australian Geothermal energy company that aims to explore for and develop geothermal resources.
Greenearth Energy's flagship commercial development opportunity is the Geelong Geothermal Power Project (GGPP). This is a staged project development that lends itself to a multiple modular installation approach over time that will lead, in stages, to the construction of a geothermal power generation capacity in the Geelong area and the delivery of renewable energy into the Victorian energy grid.
On successful proof-of-concept and demonstration stages, the project could displace approx. 1.32m tonnes of CO2 equivalent or 59% of total estimated industrial emissions for the Greater Geelong region
Greenearth Energy to maintain focus on Geelong Geothermal Power Project
Australian geothermal exploration and development company Greenearth Energy (ASX: GER) has revealed its vision for 2010, focusing primarily on its flagship power geneartion project in Geelong.
Greenearth Energy, which is primarily focused on developing conventional geothermal energy for power production, was the first Victorian geothermal exploration and development company to establish inferred geothermal resources at Anglesea (Victoria) and Seaspray (Victoria) in December 2008 and January 2009 respectively.
As reported in Greenearth's annual general meeting presentation, the company is listed on the Australian Stock Exchange with a current market cap of $10M and cash position of $5.4 million with no debt.
The company's primary power generation project is the Geelong Geothermal Power Project, located on the outskirts of the industrial city of Geelong.
Earlier this month, the company announced it had received substantiated support from the local community and government for the project.
On successful proof-of-concept and demonstration stages, the project could displace approx. 1.32m tonnes of CO2 equivalent or 59% of total estimated industrial emissions for the Greater Geelong region.
Greenearth Energy’s domestic geothermal exploration and development focus is on HSA geothermal resources. HSA geothermal resources along with other hydrothermal systems have been successfully developed for power generation since the 1980s HSA geothermal power plants are successfully operating in the United States, Austria, Germany and Australia.
The only commercial geothermal power plant operating in Australia, is a HSA plant in Birdsville, Queensland.
The company has two Government Grant applications pending for the GGPP, which if successful, will see the company drilling its first deep geothermal wells in 2010.
Stage 1 will take place about 9km north of the Anglesea Brown Coal Fired Power Station in mid 2010, where two deep geothermal wells will be drilled to about 4,000m and flow tested. If successful, the wells will be utilised into the company's Geelong Geothermal Power Project.
The demonstration stage will test whether the project is economically viable, while commercialisation will consist of a fully scalable demonstration plant project in 12MW multiple increments to 140MWe supported by existing grid infrastructure capacity (potentially to 90 MW ) with low cost line upgrade to 360MW.
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Other Greenearth Energy Ltd articles
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19/01/10 Greenearth Energy joint geothermal project to produce clean energy and fresh water
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14/12/09 Greenearth Energy receives $7 million Government funding for Geelong geothermal project
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09/12/09 Greenearth Energy awarded $25 million grant for Geelong Geothermal Power Project
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07/12/09 Greenearth Energy Geelong Geothermal Power Project ticking all the boxes
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10/11/09 Greenearth Energy receives thumbs up from Geelong community for power project
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04/11/09 Greenearth Energy geothermal project in Geelong gains significant ground in first 13 months
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13/10/09 Greenearth Energy turns up the heat with results of geothermal HSA study
Other Greenearth Energy Ltd news
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11/01/10 Greenearth Energy to kick off operational planning for Geelong Geothermal Power Project
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08/12/09 Greenearth Energy requests trading halt
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06/11/09 Greenearth Energy reports on REDP grant application
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21/09/09 Greenearth Energy’s positive news to propel Geelong geothermal project
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17/08/09 Greenearth Energy unveils maiden Geelong geothermal resource, to assist with grant funding
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16/04/09 Greenearth Energy applies for renewable energy demonstration grant
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06/04/09 Greenearth Energy establishes geothermal power beach-head in Indonesian JV with Santini Group
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23/03/09 Greenearth Energy to develop geothermal power plant in Geelong area