Origin Energy has committed a further $9.6 million to Geodynamics’ flagship Copper Basin geothermal project after key milestones were achieved.
Origin made the commitment after Geodynamics completed the Habanero 3 well and an open circuit circulation test between Habanero 1 and Haberno 3 were completed on time and within budget.
The extra funding brings Origin’s total commitment to project expenditure to approximately $150 million. Geodynamics is developing the project in three stages.
Stage one will be the establishment of ‘proof of concept’, which will be announced following a six week closed-loop circulation test on the Haberno 3 well.
Stage two will see the design and construction of a 50MW demonstration power plant powered by geothermal energy, the drilling of a further nine wells and the completion of transmission infrastructure for the plant, which is expected to be completed in late 2011.
Stage three involves the demonstration of commercial viability and the construction of a further nine plants to produce an overall capacity of 500MW.
The project is expected to be completed in late 2015.
Geothermal energy has the potential to provide Australia with low-emission base-load electricity indefinitely, and will play a major role in achieving desired emissions cuts via a transition to clean energy technology.
Origin Energy is in the Western Australian Resource Development Services Directory.
This article was first published in the Resource and Energy Projects Services (REPS) newsletter.
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