GreenPower Energy awarded 2 exploration permits in Western Australia
Greenpower Energy (ASX: GPP) has been awarded two geothermal exploration permits in the Esperance area of Western Australia. These permits, GEP37 & 38 of a combined area of 10,732 sq km.
In a release by the company it is said that Australian “Greenpower Energy (ASX: GPP) has been awarded two geothermal exploration permits in the Esperance area of Western Australia.
These permits, GEP37 & 38 of a combined area of 10732 sq km have been awarded by the Department of Minerals and Petroleum, are for a period of 6 years, are renewable and enable the holder to proceed to commercial development.
Work to delineate the areas most favourable for commercial geothermal energy development is already beginning.
The company said analysis of basic geological information shows that heat emitting granites occur in the Esperance district. This analysis also shows that strong structural events have occurred in the same area and this should assist in the ability to retrieve the geothermal energy for power generation.
During the first year of the project several investigations will map the extent of the heat emitting granites. During the second year it is planned to investigate the granite heat source in detail and carry out shallow drilling.
Deeper drilling designed to provide the framework for harnessing the geothermal heat electricity conversion is planned for 2012.
The development and harnessing of geothermal energy is a significant opportunity for base load
emission-free electricity generation in the Esperance district. Across Australia there are several projects which are likely to result in large scale emission-free electricity generation.
These projects enjoy strong policy and financial support from government agencies.”
Source: Proactive Investors