Geodynamics concludes draft ESIA for 10-MW geothermal scheme in Vanuatu

Sep 8, 2014 - Australian company Geodynamics Ltd (ASX:GDY) said Thursday it had finalised the draft Environmental and Social Impact Assessment (ESIA) for its up to 10-MW Takara geothermal project in Vanuatu.

Geodynamics CEO, Geoff Ward, said in a statement that the company is pleased with the findings of the ESIA, since it indicates the project can be "developed safely with low impact on the environment." He noted that Vanuatu will benefit from the facility as it will help the Oceanian island nation reduce its dependence on imported diesel fuels.

The project may be executed in two stages, the first of which would involve the development of a net 5-MWe plant to meet base load demand. The second phase will possibly see Geodynamics develop another 5-MWe facility to meet future demand growth and enhance load. The project is expected to be finalised in 2018.

The ESIA document, currently under review by the Vanuatu Department of Environmental Protection and Conservation, can be seen by the public until October 20, 2014.

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