Big Australian energy players with faith in geothermal
Alexander Richter
22 Jun 2009
In Australia at a recent UBS Energy and Utilities, energy giants Origin Energy and AGL both told the audience about their trust in geothermal energy and the role it could play to fulfill renewable energy targets as well as the base load requirements.
In Australia at a recent UBS Energy and Utilities, energy giant Origin Energy told the audience ” that geothermal energy, developed at scale, could be a superior long-term solution to meet its RET (Renewable Energy Target) targets, while AGL said geothermal would likely play a key role in base-load generation, even if some projects — not its own — faced significant transmission costs.
Origin is a joint venture partner with Geodynamics, while AGL has a 10 per cent stake in another aspiring geothermal producer, Torrens Energy, and the right to take up to a 50 per cent stake in its project in exchange for funding.
Geothermal producers believe they can have 2200MW of capacity generating power by 2020.
Source: The Australian
