Geodynamics to explore drilling activities at Savo Island geothermal project

Australia-based Geodynamics and its joint venture partner Kentor Energy have received a development consent for the Savo Island geothermal power project from the Solomon Islands Department of Environment.

The companies will now be able to explore drilling activities at the project located in Solomon Islands.

The consent follows the review of the Savo Island Geothermal Project Environmental and Social Impact Assessment (ESIA) and Environmental Management Plan (EMP).

The ESIA and EMP will guide the monitoring, mitigation and remediation measures implemented by Geodynamics for exploring drilling activities.

Geodynamics CEO Geoff Ward said that with the approval of the ESIA and EMP and granting of development consent for exploration drilling Geodynamics has secured all the necessary regulatory approvals to commence geothermal drilling activities on Savo Island.

"We are excited at the prospect of starting exploration drilling later this year to further progress this project that has material benefits for the Solomon Islands," added Ward.

Geodynamics is currently in talks with the Solomon Islands Electricity Authority and Solomon Islands Government on the key terms of the power purchase agreement necessary to underwrite the project.

The electricity supplied by the project will replace imported diesel fuel, a move that will make Solomon Islands less dependent on imported fuel.