KUTh Energy announced “it has its first inferred geothermal resource in Tasmania. That resource is enough to drive a 280 megawatt power station, with a project life of 30 years.

As the company says, this energy will not only provide power to hundreds of thousands of homes but allow Tasmania to export “green” energy to the mainland through the Basslink cable. The resource is enormous by gas standards – 260,000 petajoules.

The Charlton-Lemont project is the first defined by Kuth, and the company has identified other targets for geothermal drilling and assessment. All areas are within economic reach of existing transmission lines. Kuth is applying for money from the federal government’s geothermal drilling program, which provides grants of up to AU$7 million for deep wells.”

Source: The Australian, Company announcement via The Age