Early tests indicate exciting power potential for Petratherm's Clean Energy Precinct

Preliminary testing for wind and solar resources at Petratherm’s proposed $1.5 billion Clean Energy Precinct in northern South Australia has revealed excellent results.
 
Undertaken by Garrad Hassan Pacific, the world’s largest independent renewable energy consultancy, the testing shows wind speeds of up to 8 metres per second at 100m height which has the potential to facilitate a 300MW wind farm.
 
Preliminary assessments also indicate a world-class solar resource estimated at 20 megajoules per square metre daily.
 
Speaking ahead of the SA Resources & Infrastructure Conference to be held in Adelaide today, Petratherm Managing Director Terry Kallis said he is excited by the preliminary wind and solar results that build on recent independent testing confirming a major geothermal resource at the company’s nearby Paralana project.
 
“We have always been confident of the wind, solar and geothermal resources we have access to within the Precinct, but it is always good to have our own views backed up by independent assessments,” said Mr Kallis.
 
“We are also confident of securing a competitive gas supply and access to capacity from the Moomba to Adelaide gas pipeline which runs directly through the Precinct.
 
“It’s still early days for the Precinct but we remain firmly on track to combine new power generation facilities across gas, wind, solar and geothermal to eventually produce 600MW of reliable, competitively priced electricity to meet anticipated demand from large mining developments in SA.”
 
Announced by Petratherm last December, the Clean Energy Precinct aims to combine gas, wind, solar and geothermal energy to supply base-load, low cost renewable power to meet the growing demands of mining developments in South Australia.
 
Located 50km north of the Paralana geothermal project in Far North SA, the Clean Energy Precinct has exclusive access to over 1,890 square kilometres of land for power generation, which Petratherm aims to use to deliver 600MW of power to the electricity market as early as mid-2016.
 
Mr Kallis said the Precinct will initially focus on gas and wind power generation before expanding to solar and geothermal as these technologies develop as lower cost alternatives.
 
“The Precinct is still in the pre-feasibility stage so in the short-term our primary focus will remain on resource assessment, generation mix, capital cost estimates, licensing and access to electricity grid and gas pipeline connection,” he said.
 
“There is an inextricable link between Petratherm’s Paralana project and the Clean Energy Precinct, because the Precinct project is the key enabler to develop and monetise the large Paralana resource by getting it a large market through an innovative HVDC underground transmission connection.
 
“We are also continuing discussions with key investors from several large renewable and energy companies both locally and overseas for potential technology and joint venture partnerships.”
 
With a wealth of experience in power project development in South Australia, including previous senior roles with ETSA Corporation and ElectraNet, Mr Kallis has already helped develop a number of key energy projects for the State including the 220MW, 180km underground HVDC Murraylink Interconnector for TransEnergie Australia, SA’s first wind farm at Starfish Hill near Cape Jervis, and the 90MW Mintaro gas-fired power station near Clare.
 
“The Clean Energy Precinct looms as a significant project for the company and can really be a game changer for Petratherm,” he said.
 
Additional information about this announcement is available in an Australian Securities Exchange release issued by Petratherm today (see www.asx.com.au).

ISSUED BY HUGHES PUBLIC RELATIONS: Please contact Kieran Hall on kieran@hughespr.com.au or 8412 4100.