Origin Quits Geothermal in Australia as Geodynamics Prepares 1MW Pilot Plant (Reneweconomy)
Australia’s largest electricity utility
Origin Energy has announced it will withdraw completely from the Geodynamics led
Innamincka geothermal joint venture, just weeks before a 1MW pilot plant – the first to feature enhanced geothermal systems technology in Australia – was due to come online.
The withdrawal was not unexpected given that Origin Energy had written down its $200 million plus investment in “hot rock” geothermal, as well at its stake in
Geodynamics, and had withdrawn from funding ongoing drilling programs and the pilot plant.
The timing, however, did surprise, given that it came three months before a decision was due.
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