New Zealand invests up to $60M in supercritical geothermal tech, aiming to triple energy output by 2040.

New Zealand plans to invest up to $60 million to explore supercritical geothermal technology (SCGT), which could generate up to three times more energy than current geothermal methods. The initial $5 million will fund design and drilling plans for exploratory wells in the Taupō Volcanic Zone. The long-term project aims to start drilling by 2025 and deploy technology by 2035-2040, reducing fossil fuel reliance and emissions.

November 13, 2024
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