Oil and Gas News

Strike secures clean energy future funds

Clean Energy Future Fund

Strike Energy has been awarded a $2 million grant by the Western Australian government as part of the second round of the Clean Energy Future Fund.

The funding will be directed towards the preparation and execution of the drilling of Future State-1, the company’s planned test of the Geothermal potential of the Mid-West Geothermal Power Project.

Strike’s Managing Director and Chief Executive Officer Stuart Nicholls said Strike was thankful to the WA government for this funding and the occasion it has presented for the company and its activities.

“The Mid-West Geothermal Power Project is an excellent opportunity for Strike to use its existing core capabilities to drive renewable energy into its vertically integrated strategy,” he said.

“The complementary skills required for a successful geothermal project in the Mid-West are all currently within the company’s existing competencies.

“The Mid-West Geothermal Power Project is unique in that it may provide 24/7 dispatchable power which can drive lower carbon outcomes across Strike’s existing portfolio of projects and potentially more broadly across the State.

Six other applicants were also successful in securing this funding for their relevant projects.

The projects will test critical low-carbon technologies and support achieving the Western Australian target of net-zero greenhouse gas emissions by 2050.

Together, the seven projects are expected to invest $197 million, create up to 255 jobs during construction, generate 81,000 megawatt-hours (MWh) each year, enough to power 16,000 average WA homes, and avoid about 132,000 tonnes of carbon emissions each year or 2.4 million tonnes over their design lives.

If the seven pilot projects are successful and technologies prove commercially viable, these could lead to lifetime emissions reduction of 132 million tonnes of carbon dioxide equivalent just in Western Australia, with significant potential for wider adoption of the technologies developed.