The EPG2037 permit area covering approximately 589 sq. km. was identified as a prospect for geothermal power generation following a comprehensive review of geological considerations and future market accessibility. Site evaluation included assessment of historical geological mapping works and geological conditions suitable for geothermal energy generation. Offset well data indicate high geothermal gradient in the area with considerable geothermal power potential.
The acceptance of the EPG application provides an opportunity for Whitebark to expand their asset base and further their commitment of aligning with Australia’s transitioning energy market. It is also part of Whitebark’s renewed focus on geothermal energy assets that Whitebark believes will be a future source of baseload renewable energy.
“The acceptance of EPG2037’s application is a step forward towards the Company’s goal of becoming a leader in Australia’s energy transition. Geothermal energy is a reliable and cost-effective renewable energy source with the ability to provide baseload power and firming which will be critical as we work towards Net Zero targets,” commented Adam Stepanoff, Whitebark General Manager.
The Queensland region has attracted the attention of several potential geothermal developers. The Millungera Basin, in particular, is one of the most highly prospective areas for geothermal in Australia.
