Australia’s Geothermal Energy Projects in Jeopardy

From The Green Optimistic

By Leigh Kim

The future of geothermal energy in Australia is looking bleak. Despite the fact government data speculates that using only 1% of hot rocks can generate power for Australia for 26,000 years, major companies are retracting their support.

Since they have not seen any returns in Geodynamic’s Cooper Basin wells, Ten years ago, Origin anticipated major returns, returns that have not come to fruition. Origin Energy has pulled out after losing patience with geothermal energy. Energy Australia, another large corporation with interest in geothermal, is in a similar situation and has given up its take in a different geothermal project in South Australia.

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