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 reports on PT. Geo Power Indonesia's production plans
Greenearth Energy (ASX: GER) has reported that PT. Geo Power Indonesia has signed a non binding Memorandum of Understanding (MoU) with the Cengiz Holding of Turkey to develop a Java based site in Indonesia for the production of geothermal power.
Greenearth Energy's 100% wholly owned subsidiary Greenearth Power Pty Ltd has a 40% interest in PT. Geo Power Indonesia.
The Turkish based Cengiz Holding's operates in numerous fields of business including Construction, Energy, Mining and Tourism. Within the Energy sector, Cengiz Holding has a successful track record in building and operating coal, natural gas and hydroelectric power generation infrastructure.
Greenearth Energy, along with fellow PT. Geo Power Indonesia partners Jakarta based Santini Group and North American based International Investment Resources LLC, "looks forward to working with Cengiz Holding."
Over the next 90 days, Cengiz Holding will complete due diligence before moving to a formal agreement.
Mark Miller, managing director, said Greenearth Energy believes this dynamic group collective have the skills, experience and track record to successfully deliver Geothermal Power development in Indonesia.
The group's Java based site in Indonesia has the potential to deliver several hundred megawatts (MW) of base load, zero emissions Geothermal Power.
Last December Greenearth Energy was awarded both a $7 million grant from the Australian Government and a $25 million grant from the Victorian Government for its vanguard Geelong Geothermal Power Project in Victoria, a project that has the potential of providing emissions-free baseload renewable power.
Greenearth Energy shares rose 5.56% to 9 cents in trading today.
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Other Greenearth Energy Ltd articles
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23/04/10 Greenearth Energy wraps up active quarter
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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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27/11/09 Greenearth Energy to maintain focus on Geelong Geothermal Power Project
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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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16/08/10 Greenearth Energy's A$7m funding negotiations further extended to 31 August
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16/07/10 Greenearth Energy's A$7m funding grant negotiations extended
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01/07/10 Greenearth Energy appoints Robert Annells as Non Executive Chairman
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16/06/10 Greenearth Energy moving funding grants one step closer
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20/05/10 Greenearth Energy in negotiations with Victorian Government for $25 million funding
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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