The Hon. Jay Weatherill MP, Minister for Education, and Early Childhood Development on behalf of the South Australian Premier, opened the conference. Emphasising continued support from both the Federal and South Australian Governments, Mr Weatherill highlighted South Australia’s prominent position within the geothermal industry, pointing out that the state is home to the three most advanced geothermal projects in the country: Geodynamics’ Innamincka Project, Petratherm’s Paralana Project and Panax’s Limestone Coast Project.

Terry Kallis, Chairman of the Australian Geothermal Energy Association and Managing Director of Petratherm, outlined the three major requirements for the geothermal industry’s sustained development. Mr Kallis said that a price on carbon, capital funding for projects, and infrastructure for and incorporation of geothermal energy into the electricity network were needed most.

Mr Kallis noted that at present, there is no longer any clear government program for further geothermal funding of a significant size.

Walter Geradi, Principal Consultant , SKM MMA, presented on geothermal in comparison with other renewable energy technologies. Mr Geradi pointed out that the key competitive advantage of geothermal is its high capacity factor in comparison with other renewables.

“A carbon-constrained economy? That would be nirvana for your technology,” said Mr Geradi.

He was keen to point out that the Renewable Energy Target (RET) will only provide adequate support if the technology is commercialised in time, and that geothermal would need other government support to develop the actual technologies, adding that this would need to happen by mid-decade.

“The RET was designed to give technologies a leg up, and then phased out in a carbon-constrained world.”

Arthur Sinodinos, Senior Advisor, Business Banking and Private Wealth, NAB, provided one of the highlights of the conference – an engaging presentation about the global financial situation, and the effects on the geothermal industry.

Mr Sinodinos stressed to delegates that it was paramount that third party experts were used to champion the geothermal industry; including independent experts and academics.

“This is very important for banks.”

To this, Barry Goldstein, South Australia’s Director Petroleum and Geothermal and Chair of the Australian Geothermal Energy Group, suggested Australia take the lead of the United States, who are investing in direct-use geothermal. He added that the industry could collaborate with the current plans for fibre-optic drilling, in order to build a brand for geothermal with low temperature applications.

Investment in overseas projects by Australian companies was also suggested as a good way to build investor confidence, something many companies have already embarked upon.

Mary O’Kane, NSW Chief Scientist and Engineer, and chair of the Australian Centre for Renewable Energy, brought attention to the newl-announced $100 million Renewable Energy Venture Capital (REVC) fund. This fund aims to make critical early-stage equity investments that leverage private funds to help commercialise emerging renewable technologies.

“The industry really needs to show that it can create wins and demonstrate offtake,” added Ms O’Kane.

A number of geothermal compliance initiatives were launched at the conference by Australian Geothermal Energy Association CEO Susan Jeanes. These include a Code of Ethics, Best Practice notes on Community Consultation, the second edition of the Geothermal Reporting code, and Draft Guidelines for reporting the levelised cost of electricity from projects.

The industry celebrates

The conference hosted an awards ceremony during the Gala Dinner celebrating contributions to the geothermal industry, with Jim Lawless, Geothermal Practice Leader with Sinclair Knight Merz, and Dr Doone Wyborn, Chief Scientist, Geodynamics both receiving the Chairman’s Award for Outstanding Contribution to the Industry.

Geothermal on show

The exhibition hall featured 24 exhibitors, including the major Australia geothermal exploration and development companies; the CSIRO; the University of Adelaide’s Institute for Minerals and Energy Resources; Finlaysons law firm; KPMG; Primary Industries and Resources South Australia; the Victorian Department of Primary Industries; and the Queensland Department of Employment, Economic development and Innovation.