There must have been a $Billion or more sunk over a decade into the quest for an economic geothermal electricity project in Australia. The aim has always been for projects on a scale that could contribute to the grid and retire some baseload coal fired generators.
Last month I wrote about pioneer hot rocks driller Geodynamics Ltd GDY – in July I wrote about Seven “green” companies I checked in January 2011 – still poor investments -
Here are share price charts for six ASX listed geothermal energy explorers – most resemble disasters if you had invested a few years ago.
Greenearth Energy Limited GER
Green Rock Energy GRK
Geodynamics Ltd GDY
Hot Rock Limited HRL
Petratherm Ltd PTR
Raya Group Ltd RYG
Australian Geothermal Energy Association – as they say – driving the development of the Australian geothermal energy industry. Link from comment 9 previous article.
Can readers point me to notable progress in the sector.
We must remember that the sector took of last decade mainly because of the IPCC AGW scare driver a perceived need for “green energy” sources. Without that I doubt if many of these companies would exist – or of multi-$millions of Govt grants would have been wasted and still are being wasted.