Geothermal Exploration in Taranaki and Waikato: Unlocking New Energy Opportunities in New Zealand New Zealand is expanding its geothermal ambitions beyond the country’s established development zones. Two Māori-led exploration projects in Taranaki and South Waikato have received a combined NZ$5.95 million in government grants to investigate previously underexplored geothermal resources and assess their potential to support regional growth, energy resilience, employment, and decarbonisation. The initiatives reflect a broader shift in geothermal development. While New Zealand’s geothermal industry has traditionally focused on high-temperature resources suitable for electricity generation, the new projects will also examine lower-temperature heat that could serve industrial, agricultural, commercial, and community applications. Government Funding for Two Exploration Projects The New Zealand Government has allocated NZ$3 million from the Regional Infrastructure Fund to the Taranaki Ge...
The United Downs project near Redruth, Cornwall is set to make history as the UK’s first integrated deep geothermal power and heat project. This week, Geothermal Engineering, the team behind the project, announced securing £15m in funding to bring their vision to life . (image source:cornwal) The funding, which includes £12m from Kerogen Capital and £3m from Thrive Renewables, will go towards developing the United Downs project, with the goal of providing up to 10MWh of heat and 2MW of electricity by next year. The heat generated will be used to power a nearby social housing estate currently under development. But that's not all - Geothermal Engineering has big plans for the future. With the funding, the team will also prepare other sites for geothermal power development, with the aim of generating 25MW of electricity and 100MWh of renewable heat per year by 2028. “We believe geothermal in the UK has enormous potential to create a new industry, grow a domestic supply chain and driv...