$60m govt funding for geothermal energy 'game-changer'

Is NZ sitting on a renewable energy goldmine? (Image: GNS)

Thu, 14 Nov 2024

Resources Minister Shane Jones has won Cabinet approval to spend up to $60 million exploring the potential to radically increase New Zealand’s renewable energy potential by tapping heat more than 6 kilometres deep in the Earth.According to research from government science agency GNS and economic consultancy Castalia, super-critical geothermal technology (SCGT) could eventually produce as much as 30,000 gigawatt hours (GWh) of energy annually.Total electricity demand in NZ – a subset of total energy demand – is currently 40,000...

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