Victoria emerging as geothermal hotspot
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24 April 2008
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Strong industry interest in exploration for geothermal energy has prompted the release of 19 new Victorian exploration areas covering more than 154,000 square kilometres in both the north and south of the state.
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In a bid to encourage the development of Victoria’s renewable energy sources, the Victorian Government has released new areas for exploration, citing the rapid improvement of geothermal technology a catalyst for investment in the state’s emerging geothermal industry.
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The close proximity of high voltage electricity transmissions lines to potential geothermal energy sources also makes Victoria extremely attractive for geothermal investment because it reduces infrastructure costs.
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Twelve permits for geothermal exploration were granted in 2007 to five companies, which have committed to spending a total of $64 million over five years to explore for geothermal energy sources.
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Regional geothermal temperature and other geoscience data has also been made available by the Victorian Government to help exploration companies considering applying for permits.
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“Geothermal energy has the potential to provide clean and reliable energy, with close to zero greenhouse gas emissions, because it is generated from naturally occurring heat from hot rock and water reservoirs deep beneath the earth’s surface,” Energy and Resources Minister Peter Batchelor said.
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In hydrothermal geothermal systems, deep groundwater that has been naturally heated to steam temperatures is brought to the surface and used to turn turbines, while in dry rock systems, water is injected into hot rocks and returned to the surface once heated.
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The Victorian Government’s Renewable Energy Target scheme aims to increase energy generated from renewable sources to 10 per cent by 2016.
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