In Australia at a recent UBS Energy and Utilities, energy giant Origin Energy told the audience ” that geothermal energy, developed at scale, could be a superior long-term solution to meet its RET (Renewable Energy Target) targets, while AGL said geothermal would likely play a key role in base-load generation, even if some projects — not its own — faced significant transmission costs.

Origin is a joint venture partner with Geodynamics, while AGL has a 10 per cent stake in another aspiring geothermal producer, Torrens Energy, and the right to take up to a 50 per cent stake in its project in exchange for funding.

Geothermal producers believe they can have 2200MW of capacity generating power by 2020.

Source: The Australian