In the face of the current economic downturn, the Australian geothermal industry has experienced significant growth in the number of companies that have joined the search for 'Hot-Rock Energy' fuelled by the rapidly increasing demand for renewable energy.
Hot Rock Limited (HRL) has discovered a new geothermal well in its newly-granted GEP23 Permit area in the Otway Basin, Victoria, after reviewing recently released petroleum well results.
Local company Hot Rock Limited is preparing developments for its first geothermal exploration power station next year, in a quest to provide a cleaner, greener energy source for Australia by 2012.