Fiji developer hopeful to proceed with project in Savusavu soon
Savusavu hot spring, Fiji (source: flickr/ jasabout, creative commons)
Alexander Richter
27 Mar 2013
Local developer Geothermal Electric Limited is hopeful to start exploration work for geothermal power project at Savusavu in Fiji in the coming week with an estimated project cost of over $80 million.
A news piece from Fiji reports that local company Geothermal Electric limited is hopeful it will soon start geothermal exploration at Savusavu with an estimated project cost of over $80 million.
A recent speach by World Bank Managing Director Sri Mylyani Indrawati described the importance of geothermal and introduced an initiative to better manage and reduce the risks of exploratory drilling and bring geothermal power into the mainstream.
Local geothermal developer Geothermal Electric Limited is presently awaiting paperwork from the Department of Mineral Resources to come through. Questions sent to the Department of Mineral Resources last Tuesday remained unanswered when this edition went to press last night.
The chief executive officer of the company, Timothy Daniel said Fiji had much to gain by accessing a renewable energy resource like geothermal energy.
“A single exploration drill hole costs almost $18million to drill. The higher the cost of exploration, the bigger the power plant must be to pay back that cost,” he said.
“If there is no demand, then there is no commercial reason to drill. So driving down the costs and the risks of this exploration drilling is crucial.”
However, Mr Daniel remained adamant that geothermal energy was a viable alternative for Fiji.
“Geothermal Electric Limited already has access to more than 50 years geothermal drilling experience and all the equipment to do the job right here in Fiji.”
“And our experts are prepared to take on the commercial risk themselves so the upfront costs are kept low. With our approach, geothermal is viable in Vanua Levu and other locations in Fiji,” Mr Daniel said.
Source: Fiji Times
