[LINK] Clean Energy Future Legislation

[stephen at melbpc.org.au]

One response to the Clean Energy Future Legislation ..

ASX ANNOUNCEMENT 12 OCTOBER 2011  www.geodynamics.com.au

Geodynamics Welcomes Passing of Clean Energy Future Legislation

Geodynamics Limited, Australia’s most advanced geothermal energy 
developer, today said it welcomed the passing of the Government’s 
legislation to establish a carbon pricing scheme and looks forward to its 
passage in the Senate in November. 

The Company said the legislation establishes long-term support for the 
development of cleaner energy options for the Australian economy.

Geodynamics’ Managing Director Geoff Ward said: “The passing of the clean 
energy future legislation provides vital long term support for the 
transformation of the Australian energy market. It is a major initiative 
that clearly addresses energy security and foreshadows a necessary 
transition, likely to take place over several decades. The legislation 
gives Australia the policy backbone it needs to build renewable energy 
alternatives while continuing to provide affordable electricity on 
reliable, high quality networks.”

“As well as the clear pricing signals this legislation offers industry, 
the establishment of the Australian Renewable Energy Agency (ARENA) and 
Clean Energy Finance Corporation (CEFC) is crucial to ensure that as a 
nation we invest in new technology now. This will allow us to deliver 
globally competitive clean energy on the commercial scale that will be 
needed to power our economy in the decades ahead.”

Geoff Ward
Managing Director and Chief Executive Officer

About Geodynamics

Geodynamics is the leading Australian geothermal exploration and 
development company. Geodynamics possesses some of the best geothermal 
resources in the world and is rapidly developing technology to exploit 
the resource. Geothermal energy has the potential to be a critical 
element of Australia’s future power generation and Geodynamics is at the 
forefront of development.

About geothermal energy

Geothermal energy offers the prospect of zero carbon, base-load energy 
generation. "Zero carbon" means that no carbon dioxide (CO2) will be 
emitted when generating energy. This is different from some other forms 
of ‘renewable’ energy, which still result in significant CO2 
emissions. ”Base-load” means that power is available 24 hours a day, 7 
days a week, all year round, and therefore can be used to meet energy 
needs at any time. This is a significant advantage compared to a number 
of other zero-carbon technologies that are more intermittent (such as 
wind, wave and solar power).

Geothermal energy produced from hot fractured rocks, also known as 
Engineered or Enhanced Geothermal Systems (EGS), is generated by special 
high heat producing granites located 3km or more below the Earth's 
surface. The heat inside these granites is trapped by overlying rocks 
which act as an insulating blanket. The heat is extracted from these 
granites by pumping water through fractures in the granite and bringing 
the hot water to surface. Geodynamics believes that energy produced using 
EGS technology is capable of generating base-load power at a cost that 
will be very competitive with other energy sources (both low carbon and 
otherwise).

Geodynamics is also working to exploit the lower grade, hot sedimentary 
aquifers at shallower depths. While hot sedimentary aquifers have lower 
temperatures than EGS, and hence lower power conversion efficiency, the 
shallower nature of these resources render them more readily accessible 
with simpler technology and therefore may be more rapidly commercialised.

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Cheers,
Stephen
Nb $0 association