Country's first geothermal company to start functioning soon
India's first geothermal company GeoSyndicate Power Private Ltd has been granted permission to assess the potential through exploratory drilling.
By PTI |
MUMBAI: India's first geothermal company GeoSyndicate Power Private Ltd has been granted permission to assess the potential through exploratory drilling, which is expected to commence during the second half of this year, company Chairman D Chandrasekharam said.
GeoSyndicate is a knowledge based company, which made remarkable progress in geothermal energy sources. It recently signed an MoU with Panx Geothermal, an Australian Geothermal venture, with Bertus De Graaf as its founder to exploit the Godavari rift and Ladakh geothermal provinces to generate power, D Chandrasekharam told reporters here on Thursday on the occasion of World Environment Day.
Exploiting the available geothermal resources of the country will provide energy source and offer several advantages like getting relief from already spiralling oil prices, reduce carbon dioxide emission, mitigate climate change and reduce fossil fuel use wherever it is possible, says Chandrasekharam.
"At present about 10,000 MW of electricity is being generated across the world from geothermal sources. Unlike other renewable, geothermal can provide base load power and is attractive in terms of cost. Earth has abundant heat and it is up to us how best we can use of it for our future betterment," says Chandrasekharam also the head of the Centre of Studies in Resources Engineering.
GeoSyndicate is a knowledge based company, which made remarkable progress in geothermal energy sources. It recently signed an MoU with Panx Geothermal, an Australian Geothermal venture, with Bertus De Graaf as its founder to exploit the Godavari rift and Ladakh geothermal provinces to generate power, D Chandrasekharam told reporters here on Thursday on the occasion of World Environment Day.
Exploiting the available geothermal resources of the country will provide energy source and offer several advantages like getting relief from already spiralling oil prices, reduce carbon dioxide emission, mitigate climate change and reduce fossil fuel use wherever it is possible, says Chandrasekharam.
"At present about 10,000 MW of electricity is being generated across the world from geothermal sources. Unlike other renewable, geothermal can provide base load power and is attractive in terms of cost. Earth has abundant heat and it is up to us how best we can use of it for our future betterment," says Chandrasekharam also the head of the Centre of Studies in Resources Engineering.
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