Thanks for all the great posts everyone. As en ex-holder I am watching with interest. I will say the constant SPP's seem to be a characteristic of the geothermal industry in Australia. $68 million from the government is not enough because it requires 2 for 1 matched funding, hence the Grattan Institute report that established that these government funds NEVER GET SPENT!
Hopefully the new Clean Energy Fund (i.e. carbon tax) legislation, which you all supported (!??) will assist with the $13 billion funds available through the new Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency.
As for the flow rates - I assume you are right there Guild. I have re-read the announcement several times and I have come to the following conclusions:
1. The flow rates of between 1 and 6 litres per second are natural flow rates from the "naturally overpressured system" with no pumping involved, and...
2. Pumping in the future will be necessary because it will be a circulation loop - there will be a production well and an injection well (or two) and at the very least the recycled brine will need to be pumped into the injection well(s).
Therefore one can reasonably assume that the flow rates being seen at the moment do not necessarily reflect the size of the reservoir or the maximum rate at which brine might be pumped through the reservoir and extracted in the future.
As for the SPP, well its looking a bit sick at the moment. Maybe they have a plan B?
PTR Price at posting:
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