Age
Tuesday 16/11/2010 Page: 7
Alcoa has flagged its intention to power part of its energy-intensive operations in Victoria with geothermal power, signing a memorandum of understanding with Greenearth Energy.
Alcoa, which operates the world's largest integrated bauxite mining, alumina refining and aluminium smelting business, will take up to 12MWs of power, contingent on Greenearth Energy proving its resources and technology. If all goes to plan, Alcoa could be using geothermal power by 2014, with the amount supplied subject to commercial negotiations.
The next step is locating a site, which Alcoa has agreed to help do somewhere on its lease, but it would need approval from the Victorian government. The memorandum is a significant step for the prospects of geothermal power, one of the few renewable resources that can provide base-load energy.
Greenearth Energy managing director Mark Miller said the agreement was an endorsement of the company's geothermal prospects, given that Alcoa was heavily reliant on security of its energy supply. "Geothermal energy is being increasingly recognised as having the potential to deliver zero emissions, reliable and, importantly, base-load renewable energy generation", he said. Greenearth Energy shares soared as much as 45% but closed 6%, or 0.5¢, higher at 8.4¢.
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