Week of August 18, 2008 |
Editor: C.V. Clute editor@epoverviews.com Geothermal is competitive with Wind power on "dollar-for-megawatt" basis (Int'l - Ind. Report) Petratherm Limited indicates that geothermal would compete very favorably with wind on both commercial and performance grounds as a result of a "dollar-for-megawatt" cost assessment of the two technologies, based on the company's emerging Paralana Geothermal Project in South Australia's northern Flinders Ranges. The Paralana project is one of one of Australia's most advanced geothermal projects and is expected to produce the country's first commercial flows of geotheral energy in 2010. "Including estimated transmission and substation costs, Paralana will cost $165-$174 million US ($190-200 million AUS) to develop initially to 7.5 MW capacity and then to the second stage 30 MW capacity," Managing Director, Terry Kallis said. (Source: Oil Voice, Aug. 18, '08)
$10.25 million for Geothermal development (Funding) Google.org has followed up on earlier investments in solar power and clean transportation initiatives with an additional $10.25 million US for the following three geothermal projects:
AltaRock has filed applications for a portfolio of U.S. patents in the EGS area, and holds exclusive U.S. licenses for other related intellectual property. The company intends to develop EGS to provide cost-effective baseload renewable energy in Washington, Oregon, California and Nevada power markets. AltaRock Energy's planned EGS demonstration project will test the company's proprietary technology advancements that are expected to reduce the costs of engineering geothermal fluid flow paths in hot rock. (Source: Press Release, Aug. 19, '08)
Is Renewable Energy the answer to NYC's energy needs? (Ind. Report) The New York City Economic Development Corporation has released a Request for Expressions of Interest (RFEI) calling for innovative ideas to help New York City develop renewable energy sources. These ideas could include offshore wind farms, wind turbines on top of New York City's bridges and skyscrapers, tidal power, solar power and geothermal energy. The information gathered from this RFEI will be used to identify promising renewable energy projects for New York City and to provide a better understanding of the opportunities for both established and emerging renewable energy technologies. Responses are due Sept. 19, '08. (Source: Reuters, Aug. 20, '08)
$43 million US Geothermal Drilling Program launched in Australia (Int'l - Funding) The Australian Government will provide $43 million US ($50 million AUS) to the "Geothermal Drilling Program" which will provide up to $6 million US ($7 million AUS) in competitive grants for proof-of-concept projects with the potential to develop geothermal resources for either electricity production or direct-use heat. The Minister for Resources and Energy, Martin Ferguson, said, "the potential of the geothermal industry in Australia is truly staggering. Geoscience Australia estimates that if just one percent of Australia's geothermal energy was extracted, it would equate to 26,000 times Australia's total annual energy consumption." Ferguson said the first commercially viable geothermal power plants could be in place within four to five years. An ustralian Geothermal Energy Association report recently forecast it could potentially produce 2,200 MW of baseload power by 2020, or 40 % of Australia's 2020 renewable energy target. (Source: Reuters, Aug. 20, '08)
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