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Geothermal energy has been tested as a domestic Australian power source and may now become an exportable clean electricity generating technology.
Australian company Uranoz has recently signed deals to acquire a South Australian geothermal project and rights to earn large interests in geothermal fields in India and the Kyrgyz Republic.
Geothermal pioneer Dr Bertus de Graaf, formerly of Geodynamics, is the new Uranoz managing director.
"Uranoz had basically the desire to diversify into geothermal," Dr de Graaf says. "Secondly it has interest in doing a transaction with me regarding my interests in India and Kyrgyzstan, and thirdly Uranoz has a good cash position in excess of $10 million."
Geothermal energy is produced from hot rocks at various depths below the Earth’s surface. It has the potential to produce zero emission, base-load power.
Dr de Graaf says the Limestone Coast Geothermal Project, located northwest of Mount Gambier in South Australia, has strong potential. It has been recognised as such by the Federal Government which awarded it a $4 million REDI grant in 2005.
"The project has been viewed extensively by top experts from around the world including Stamford University, Geothermax as well as some researchers in Australia, so altogether there are very good pointers that this could be a very interesting project, and if we succeed with this project, it could become important both for Australia and for the world," Dr de Graaf says.
The first step will be production test drilling to confirm a geothermal reservoir, followed by a 50 megawatt geothermal power plant. This could be quickly expanded to a 250MW plant capable of powering 250,000 homes, substituting for greenhouse gas-producing fossil fuels.
But Uranoz’s search for clean and green geothermal energy will not be confined to Australia. The company will be exploring for geothermal resources in the Indian state of Maharashtra and the Himalayan Geothermal Province in Ladakh.
"All of them are still in their early stages," Dr de Graaf says. "In terms of India – there are two regions, especially Maharashtra. The state of Maharashtra is a heavily populated state and there is a very good market for clean power.
"The other province in India is the Himalayan Province and there the United Nations Development Programme has carried out some shell drilling in the 80’s and have demonstrated extremely high heat flows with temperatures expected to be over 200 degrees within 2km, so that is extremely high - what we would call geothermal gradients."
Uranoz is also exploring in Central Asia in partnership with ASX-listed Kentor Gold Ltd.
The company intends to undertake a joint venture with Kentor in the Kyrgyz Republic for hot fractured rock geothermal resources. Four geothermal licences have been issued, in a first for the country.
The Kyrgyz government plans to develop a regional electricity market. Geothermal power could soon be driving development from Pakistan to India.
"I think it’s the quality of the geothermal projects and also of course it’s the sector we’re in; clean energy is important at the moment and it will become even more important in the future," Dr de Graaf says.
"From an investor’s point of view the distinction perhaps is that Uranoz will bring in geothermal energy that is there. There is a diversification – it’s not just Australia, but we’re also looking in India as well as in Kyrgyzstan."
Australian company Uranoz has recently signed deals to acquire a South Australian geothermal project and rights to earn large interests in geothermal fields in India and the Kyrgyz Republic.
Geothermal pioneer Dr Bertus de Graaf, formerly of Geodynamics, is the new Uranoz managing director.
"Uranoz had basically the desire to diversify into geothermal," Dr de Graaf says. "Secondly it has interest in doing a transaction with me regarding my interests in India and Kyrgyzstan, and thirdly Uranoz has a good cash position in excess of $10 million."
Geothermal energy is produced from hot rocks at various depths below the Earth’s surface. It has the potential to produce zero emission, base-load power.
Dr de Graaf says the Limestone Coast Geothermal Project, located northwest of Mount Gambier in South Australia, has strong potential. It has been recognised as such by the Federal Government which awarded it a $4 million REDI grant in 2005.
"The project has been viewed extensively by top experts from around the world including Stamford University, Geothermax as well as some researchers in Australia, so altogether there are very good pointers that this could be a very interesting project, and if we succeed with this project, it could become important both for Australia and for the world," Dr de Graaf says.
The first step will be production test drilling to confirm a geothermal reservoir, followed by a 50 megawatt geothermal power plant. This could be quickly expanded to a 250MW plant capable of powering 250,000 homes, substituting for greenhouse gas-producing fossil fuels.
But Uranoz’s search for clean and green geothermal energy will not be confined to Australia. The company will be exploring for geothermal resources in the Indian state of Maharashtra and the Himalayan Geothermal Province in Ladakh.
"All of them are still in their early stages," Dr de Graaf says. "In terms of India – there are two regions, especially Maharashtra. The state of Maharashtra is a heavily populated state and there is a very good market for clean power.
"The other province in India is the Himalayan Province and there the United Nations Development Programme has carried out some shell drilling in the 80’s and have demonstrated extremely high heat flows with temperatures expected to be over 200 degrees within 2km, so that is extremely high - what we would call geothermal gradients."
Uranoz is also exploring in Central Asia in partnership with ASX-listed Kentor Gold Ltd.
The company intends to undertake a joint venture with Kentor in the Kyrgyz Republic for hot fractured rock geothermal resources. Four geothermal licences have been issued, in a first for the country.
The Kyrgyz government plans to develop a regional electricity market. Geothermal power could soon be driving development from Pakistan to India.
"I think it’s the quality of the geothermal projects and also of course it’s the sector we’re in; clean energy is important at the moment and it will become even more important in the future," Dr de Graaf says.
"From an investor’s point of view the distinction perhaps is that Uranoz will bring in geothermal energy that is there. There is a diversification – it’s not just Australia, but we’re also looking in India as well as in Kyrgyzstan."
