USA, California: Rod Colwell's “Hot Rod” Geothermal Technology Looks to Launch

Aussie developer wants to power California with steam from deep under inland sea (The Australian Financial Review)

GRC Member Rod Colwell has plans for a 250 MW Geothermal Power Plant

Disillusioned Queensland property developer Rod Colwell is trying his luck on a billion-dollar geothermal energy project on an inland sea in California where legendary investor Warren Buffett's Berkshire Hathaway owns a share in a string of generators.

GRC Member Mr Colwell aims to capitalize on California's aggressive renewable energy targets and falling costs for geothermal plant and drilling rigs left idle by the collapse of the shale boom to overcome challenging economics and make a go of the proposed 250 megawatt Hell's Kitchen project.

A company backed by Mr Colwell, a former Excel Development Group general manager and Insight Group director, has secured a lease over 770 hectares of the Salton Sea, southeast of Los Angeles, and wants to build the geothermal power station on its southern shores.

The company, Controlled Thermal Resources, needs to secure planning approvals from the California Energy Commission, a power purchase agreement from a utility and funding for a project that will cost $US800 million-$US900 million (about $1 billion-$1.2 billion) to reach full capacity.

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