Friday, October 16, 2015

Australia: Summary of Geodynamics’ events and achievements for the 2014/2015 financial year

Geodynamics Limited Annual Report 2014-15

Following a major strategic review in 2014, Geodynamics Limited identified the need to diversify beyond geothermal. Hence during the FY15 a key focus has been the assessment and investigation of alternative investment opportunities.

Over the past 12 months many opportunities have been identified and assessed. The review identified three strategic areas which we believe will be important and growing sectors as the global trend towards more efficient and sustainable economies continues. These identified sectors are: Clean Energy Supply and Services, Energy Efficiency and Storage Services, and Cleantech Industrial Services.

There were, however, some geothermal energy highlights:

  • Completion of research program under the Beach Energy Cooper Basin Geothermal Farm–In Exclusivity Agreement to demonstrate potential for supply of geothermal sourced direct heat to future natural gas processing facilities in the Nappamerri Trough.
  • Completion of the Takara Geothermal Power Project  Environmental and Social Impact Assessment confirmed that the project can be developed safely with low environmental impact resulting in receipt of Environmental Approvals for the exploration phase of Takara Geothermal Power Project in Vanuatu.