DTNZ: $55m released for first superhot geothermal well

The government’s push to unlock a new generation of geothermal energy has taken a major step forward, with Cabinet approving the release of the remaining $55 million allocated to the GeoShot NZ project.

Regional Development and Resources Minister Shane Jones announced the funding as the project moves toward drilling what is expected to be the country’s first superhot geothermal well at the Rotokawa Geothermal Field near Taupō.

David Dempsey: NZ’s plan to drill for ‘supercritical’ geothermal energy holds promise and risk....

Hotter and deeper: how NZ’s plan to drill for ‘supercritical’ geothermal energy holds promise and risk

New Zealand’s North Island features a number of geothermal systems, several of which are used to generate some 1,000 MegaWatts of electricity. But deeper down there may be even more potential.

The government is now investing NZ$60 million to explore what is known as “supercritical” geothermal energy, following five years of feasibility research led by GNS Science.

Bob Edlin: Jones enthuses about “holistic” strategies.....

Jones enthuses about “holistic” strategies – and has a whole lot of money ($60m) for Taupo geothermal project

This report was triggered by a ministerial press statement which our Beehive watchdogs last week filed in the “what the hell does that mean?” category.

The statement came from the Coalition Government’s master of verbosity, Shane Jones, but it contained an expression which we expect will be employed by politicians disposed to “wokeness”.

He said:

Eric Crampton: Drilling down into limitless clean energy

The same supervolcano that provides one of the country’s bigger sources of catastrophic risk could well prove part of the answer to one of the country’s bigger problems on the path to 2050. It also helps to illustrate one of the problems in New Zealand’s approach to planning for net zero.

New Zealand will likely need an awful lot more electricity as carbon prices rise. Last week, GNS Science released work showing the potential for supercritical geothermal energy, tapping the much hotter temperatures found deeper. From 2037, it could start generating electricity equivalent to over a quarter of total current electricity generation, cost-effectively.