John McCarthy
October 04, 2023
Synopsis
Greenvale Energy, based in Sydney, has been exploring geothermal prospects in North-west Queensland. Their study revealed the potential for a 4.95 megawatt plant in Longreach, but exploration below a depth of 3km is not economically viable at a small scale. Instead, Greenvale will focus on the Millungera Basin, east of Mount Isa, which has significant potential for geothermal energy. The region is already known for vanadium exploration and will be part of the CopperString transmission project. Greenvale is confident in the geothermal potential of the Millungera area and plans to unlock its immense geothermal potential using the CeraPhiWell technology. The economics of the Longreach project did not make sense, leading the company to shift its focus.
North-west Queensland has always been a magnet for minerals exploration but now energy is on the table and the potential appears vast.
Sydney-based Greenvale Energy announced today that it had been exploring geothermal prospects at its tenements around Longreach.
The company said its study’s outcomes were encouraging, revealing the capacity of the technology to provide requisite heat for a 4.95 megawatt plant in Longreach, but exploration below a depth of 3km was unlikely to be economic at small scale.
Instead, it will move to its project in the Millungera Basin, an area east of Mount Isa which previous studies found potential for 611,000 petajoules of inferred geothermal energy. One petajoule was equivalent to 278 gigawatt hours, Greenvale said.
The region is already a hotspot for vanadium exploration, an element used in the development of grid-scale batteries. It also will be the middle of the route of the CopperString transmission project between Townsville and Mt Isa.
Greenvale said the Millungera Basin had target depths of 2.5 km to 3 km and also had large-scale regional power requirements.
“With the positives coming out of the Longreach geothermal feasibility study, the company’s focus now shifts to the Millungera Basin where there is already significant commitment and investment, not only in transmission infrastructure but also in mining and industrial development,” the company said.
“Greenvale’s geothermal team remains confident in the geothermal potential of the Millungerra area where it anticipates the discovery of requisite heat sources at shallower depths, with fewer sub-surface uncertainties.”
Chief executive Mark Turner said that the economics of the Longreach project did not add up.
“Being one of the first movers for geothermal in Australia was always going to present challenges. However, we now have confidence in the CeraPhiWell technology, confidence that we can take to the Mulligerra Basin as well look to unlock the area’s immense geothermal potential,” he said.
Source: https://inqld.com.au/
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