West Perth-based renewable energy company, Torrens Energy Ltd, has been buoyed by the latest hot rock drilling results at its geothermal project in South Australia, posting what it calls outstanding preliminary temperature results.
Torrens’ Perth-based director John Canaris said heat flow results at its Torrens Project Area were comparable to some of the best hot rock exploration results in Australia, and were well above targets for this stage of the project.
He believes the project has an advantage over others in the region because of its close proximity to the national power grid.
“We pegged all the power stations and power infrastructure where it intersects and where the geology is hot,” Mr Canaris told WA Business News.
The company has a total tenement area of 8,000 square metres, running from Port Augusta north along the power grid along the SA heat flow anomaly, and is one of the biggest geothermal landholders in the area.
Torrens is currently assessing its opportunities to provide hot water to nearby power stations to improve energy efficiencies, and provide pre-heating in desalination projects.
“To be in step with sustainable development using coal to desalinate water is like robbing Peter to pay Paul,” Mr Canaris said.
Torrens was established in January 2006 and floated on the ASX on March 2007. Its board includes former Western Power managing director, David Eiszele.
The WA geothermal industry received a kick-start last month after Resources Minister Fran Logan announced the first release of acreage for geothermal exploration in WA.
The government has opened the bidding on 495 lots stretching from south of Kalbarri down to Dunsborough and inland about 250 kilometres, with each lot comprising an area of 320sqm.
A second acreage area, to be situated in the Carnarvon basin region, will be released later in the year.
South Australia has been the centre of activity for geothermal exploration in Australia, with Queensland-based Geodynamics Ltd leading the pack to commission the first 50-megawatt commercial geothermal power plant in Australia.
The federal government’s Renewable Energy Fund has committed $50 million to match dollar for dollar the drilling costs up to $5 million per well.
