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Released May 07, 2013 | PERTH, AUSTRALIA
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Researched by Industrial Info Resources Australia (Perth, Australia)--In April 2013, Geodynamics Limited (ASX:GDY) (Queensland, Australia), a geothermal exploration and development company, commissioned the 1-megawatt (MW) Habanero Geothermal Power Plant in the town of Innamincka, South Australia. Geodynamics joined with Origin Energy Limited (Sydney, Australia) in 2007 to form a special purpose entity called Innamincka Deeps Joint Venture ("Deeps") to build this project, called the Innamincka Deeps EGS Project. It involves the implementation of enhanced geothermal systems (EGS), a pilot technology that produces geothermal energy from the Habanero well in Cooper Basin, South Australia.
EGS is the use of heat from hot rocks, generally granite bodies, located between 3 and 5 kilometers below the surface for power generation. EGS technologies enhance and/or create geothermal resources in the granite through "hydraulic stimulation."
The power plant features one Peter Brotherhood steam turbine that generates 1 MW of electricity. Geodynamics is currently testing the pilot plant operation, which is scheduled to run for about 100 days under the planned demonstration trial and testing program.
The geodynamics team will analyse the data collected from the testing program to conduct a feasibility study for developing Stage II of the project. Subject to the studies and approvals, Geodynamics will expand the power plant to operate as a small-scale commercial plant, producing approximately 25 MW of electricity.
In later stages, Geodynamics plans to expand the plant up to 500 MW. When compared with fossil fuel plants, the 1-MW plant has the potential to offset between 750 and 1,500 tonnes of CO2 emissions.
Origin Energy and Geodynamics hold a 70:30 joint venture ownership in developing the pilot project; however, Origin Energy recently announced the withdrawal from the joint venture, effective June 30, 2013.
The project is well supported by the government. In March 2013, Geodynamics received a $22.2 million tax incentive refund under the federal government's R&D Tax Incentive Scheme.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
EGS is the use of heat from hot rocks, generally granite bodies, located between 3 and 5 kilometers below the surface for power generation. EGS technologies enhance and/or create geothermal resources in the granite through "hydraulic stimulation."
The power plant features one Peter Brotherhood steam turbine that generates 1 MW of electricity. Geodynamics is currently testing the pilot plant operation, which is scheduled to run for about 100 days under the planned demonstration trial and testing program.
The geodynamics team will analyse the data collected from the testing program to conduct a feasibility study for developing Stage II of the project. Subject to the studies and approvals, Geodynamics will expand the power plant to operate as a small-scale commercial plant, producing approximately 25 MW of electricity.
In later stages, Geodynamics plans to expand the plant up to 500 MW. When compared with fossil fuel plants, the 1-MW plant has the potential to offset between 750 and 1,500 tonnes of CO2 emissions.
Origin Energy and Geodynamics hold a 70:30 joint venture ownership in developing the pilot project; however, Origin Energy recently announced the withdrawal from the joint venture, effective June 30, 2013.
The project is well supported by the government. In March 2013, Geodynamics received a $22.2 million tax incentive refund under the federal government's R&D Tax Incentive Scheme.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
