Renewable energy developer Greenpower Energy will no longer pursue a geothermal energy project planned for its Mount Ridley site, in Western Australia’s south-east.
The company received a government co-funded drilling grant of $120,000 for its Mount Ridley geothermal project under the Western Australian Royalties for Regions Incentive Scheme, on a dollar-for-dollar basis.
Greenpower Energy began drilling at the site in early 2013. However, a 400m cored drill hole and an accompanying down hole geophysical logging failed to confirm an anomalous geothermal gradient in the rock sequence. The company’s target was a radiogenic high-grade metamorphic rock structure in the Mount Ridley area to the north of Esperance.
A study conducted last year by Regional Development Australia Goldfields-Esperance found the potential of the region’s renewable energy sector was hamstrung by a number of factors, such as the initial high capital cost of investment and the availability of cheaper non-renewable energy, as reported by The Esperance Express.