Despite millions of dollars invested, the Australian geothermal energy industry remains in its infancy. Will Arena’s cautious optimism be rewarded?
In July 2010, the Australian Renewable Energy Agency (Arena) took a $32m gamble on geothermal energy, investing in Australia’s first demonstration of geothermal electricity generation.
Six years later, the wells in South Australia’s Cooper Basin have been filled with concrete and abandoned, and the geothermal exploration company involved – Geodynamics Limited – has announced it is rebranding and pivoting to biogas, solar photovoltaic, battery storage and hybrid solutions.
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