Our Goal - Fight Climate Changewith Low Emission Energy Production
The Development of Deep Geothermal Energy has been compared to mining – but in this case we are mining for deep renewable heat and leaving the environment completely intact.
Large-scale Enhanced Geothermal Systems (EGS) & closed loop Geothermal facilities in Ontario are the future of green energy for our generation and future generations. Starting now will enable us to work to develop the process for large-scale deep geothermal development in Ontario taking advantage of the studies being conducted by other major players from neighbouring provinces and around the world.
We must also leverage the vast drilling and sub-surface knowledge and experience of the Canadian oil & gas supply chain to help bring down the costs of deep Geothermal development.
The proposed projects are renewable energy developments that will have minimal environmental impact and will reduce greenhouse gas emissions from otherwise polluting energy sources. The projects will be either Enhanced Geothermal Systems (EGS) or EGS Closed Loop Geothermal Projects depending on the economics & environmental impacts of development.
EGS Geothermal has reached the advanced development stage (such as Windpower did in the late 1990’s and Solar has currently reached) where Deep EGS Geothermal is ready to take off and move into the mainstream of power generation & thermal energy supply worldwide, including here in Ontario.
We know that all around Ontario we have these deep geothermal resources available for geothermal power. Now, we just need to tap this unlimited resource.
We have formed Ontario Geothermal Renewable Energy Inc. (OGRE Inc.)
to investigate and invest in research, development, and construction of these sources of energy.
We believe that the cost of base-load energy
from large scale (> 60 MWe) EGS Geothermal Projects in Ontario will be competitive at below $78.00 per MWh ($0.078 per kWh) for a 30 year term. When Super-Hot EGS can be economically developed we estimate that this will drop below $55.00 per MWh for 30 year term. These numbers are less than natural gas fired Projects and FAR below current green energy projects.
Additional revenue from thermal energy sales and greenhouse gas emission reduction sales would lower these rates substantially.
A large environmental firm has agreed to be a strategic development partner. They will assist with required Environmental Studies along with helping during discussions with First Nation’s and the Ontario Government regarding the path to development and regulation.
First stage of the company development will include the determination of an area to allow for the construction of a small Initial Project of approximately 2 MW electrical capacity with an additional ~12.5 MW thermal energy direct or through a heat exchanger system to a greenhouse heating system to enable advanced vertical hydroponic farming.
Along with this Initial Project will be discussions to develop policy to set clear ownership of the deep heat resources and how the rights to their development can be obtained. The IESO or other utility/user will be approached for the purchase of the electrical energy (PPA) generated.
The next stage Pilot Project of approximately 10 MW electrical capacity with an additional ~50 MW thermal energy direct or through a heat exchanger system to a district heating system or commercial/industrial user.
We will concentrate on areas where the ownership of the deep geothermal resource is currently clear and an acceptable royalty scheme can be determined. These include First Nations as our partners, large property owners, or Federal Port/Airports. We have also reached out to multiple universities across Ontario for the potential to develop heating systems for campus clean energy while providing educational opportunities for engineering students and trades people.
Should all the information in these initial stage studies (environmental, land availability, technical & financial) prove acceptable to all parties, we would then move into detailed design, final environmental studies and building of the Pilot Project using equity & Venture Capital money.
Concurrent with the Pilot Project development and contingent on acceptable government policy the funding and development of larger scale Projects would occur. Currently these are being planned as ~60 MW (4x15 MW) each and, due to the uniformity of the technology & bedrock in Southern Ontario, using the same basic design and partners to lower costs.
Money raised during our "Get Ontario GeoREDE " campaign will be used for our Initial Project - estimated as a 2 MW electrical energy project along with about 12.5 MW thermal equivalent to be used for the development of industrial heating of greenhouses. Possibly creation of a Geothermal Spa .
We are interested in discussing equity participation by like minded, forward thinking investors in order to raise funds for the Initial Project, Pilot Project and the subsequent large scale Projects.
Canadian Government rules now allow for flow-thru of the renewable energy exploration expense
for Geothermal Projects to company shareholders. This means that almost 100% of the initial exploration & subsequent development costs can be passed through to shareholders.
Please contact us.
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You can reach us by email anytime, or give us a call Mon - Fri 9:00am to 5:00pm
email: vmparker@ogre-on.com
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