Te Ahi o Maui Project – Kawerau A8D Block
- IDG Co-Developer with the Eastland Group
The Kawerau A8D Ahu Whenua Trust is the owner of block CIR310499 (“A8D Land”) that has proven geothermal activity within its boundaries. The area of the block is approximately 174 hectares or 428 acres. Located in what geothermal scientists have estimated as being the hottest section within the largest geothermal field in New Zealand, this world-class field has proven geothermal activity confirmed by successful power generation plants from other players invested in the field.
Located on the A8D Property Block is a previously drilled geothermal well named, KA22. This well has already been tested in 1977, 2006 and again recently in July of 2010 and has been confirmed to be able to produce enough steam to generate approximately 10 MW of electricity. In Geothermal electricity generation, wells are drilled and capped by bores that feed the resource into the power generation plant. This well due to its size, location and confirmed steam output is further evidence that the A8D Block is an extremely valuable location for a new power generation facility in a field with confirmed geothermal activity.
IDG and the A8D Trustees officially entered into a partnership on January 25, 2008 with the execution of a Memorandum of Understanding (MoU). This MoU outlined the selection of IDG as a Joint Venture partner to the Kawerau A8D Ahu Whenua Trust, transferring to IDG the exclusive development rights to the geothermal resource under A8D land. IDG is now the official developer of record for the A8D Geothermal project. With these development rights IDG has gone all over the world to finalize negotiations, working for a deal implementing the principles of the N2N model. IDG has interviewed and consulted with over 20 major international geothermal industry players and 18 banks an investment sources (from New Zealand, Australia, Iceland, US, Canada, Norway, Israel, Singapore, Hong Kong). IDG has also conducted due diligence with leading experts for financial modeling, technical science assessment, geothermal technology reviews and O&M services.
IDG has completed negotiations with the Eastland Group of Gisborne New Zealand to provide technical and operational support for a proposed 50 Mw Geothermal PowerStation. The proposed development is on track to acquire all necessary consents and permits to begin drilling and PowerStation construction over the next 18 months. The project will be called Te Ahi o Maui.