The investment will be used for a Geothermal Business Development Lead to support work in stimulating demand for geothermal heat resources, including attracting investment from industry and promoting the value proposition and commercial opportunities.
“The costs of renewable geothermal energy are often comparatively cheaper than gas and coal. New Zealand could be at the forefront of this as we have a secure and renewable energy source at our fingertips,” Ms Collins says.
“If used for high value products, geothermal heat could add millions to the local and national economy, growing industries in timber drying, aquaculture/tourism, horticulture and milk drying.”
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