Geodynamics scraps development of Upper Hunter project, Australia
Geodynamics officially scraps the Upper Hunter EGS projects in Australia.
The current government in Australia has been focusing more on coal and other fossil fuels and turning away renewables despite of the country’s massive potential. A lot of projects are suffering the stress and others have even been scrapped. The Hot Rocks project seems to be one of them.
The Enhanced Geothermal System (EGS) that Geodynamics has been working on for more than a decade in Upper Hunter in Australia has been officially abandoned.
According to local news, “current market conditions in the renewable sector are tough, and the project has been scrapped. The company said its remediated four of its 11 wells in the Hunter Valley.”
EDITORIAL: In an earlier news piece we wrote about Geodynamics abandoning its Habanero/ Cooper Basin EGS project, which was wrong. We apologise for the mistake on our behalf.
Source: ABC News