Wednesday, February 26, 2014

Republic of Vanuatu:

Takara Community Unites to Support Geothermal

In an official signing ceremony last Thursday, Prime Minister Moana Carcasses witnessed an agreement by representatives of the Takara community and geothermal developer Geodynamics Limited to commence the Environmental and Social Impact Assessment for the proposed Takara Geothermal Power Project.

This important agreement marks a significant step towards the development of Vanuatu's geothermal resource. The official signing ceremony was also attended by the High Commissioners from Australia and New Zealand, the Chief Executive
Officer of the Utilities Regulatory Authority and Governor of the Reserve Bank.

Under the agreement Geodynamics has been granted permission to commence preexploration drilling activities for its Takara Geothermal Power Project, a proposed 8 MW project to be developed over two 4 MW phases.

Initial activities will include the completion of an independent Environmental and Social Impact Assessment (ESIA) planned to commence in March 2014.

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