London UK, September 2024 – Stellae Energy, a UK-based Green Energy Solutions and Assets company, is pleased to announce significant progress following the signing of a detailed Memorandum of Understanding (MOU) with the Solomon Islands in 2023. The MOU aims to explore and develop economic, sustainable geothermal power projects harnessing volcanic geothermal energy resources in partnership with the Solomon Islands Ministry of Mines, Energy, and Rural Electrification (MMERE).
This partnership represents a major step towards sustainable energy solutions for the Solomon Islands, capitalizing on the country’s abundant island arc volcanic geothermal resources. Volcanic geothermal systems can potentially produce up to ~100 MW of energy from individual volcanic structures with both shallow and deep resources. Stellae Energy and our local partners will implement a phased approach to exploration and development of hydrothermal systems associated with a stratovolcanic island, with an initial project phase of up to ~30 MW currently under evaluation.
Since the MOU signing in 2023, Stellae Energy has been diligently working with good support from the government ministries and departments of the Solomon Islands to gather technical and commercial information necessary for a comprehensive Pre-Feasibility Report, which will be issued this year. This report will detail the potential of geothermal resources and outline the roadmap for project development.
"We are excited about the opportunity to partner with the Solomon Islands to unlock their geothermal potential," said David Hartell, CEO of Stellae Energy "These projects will not only provide a reliable and sustainable energy source but also support the economic development and energy independence of the Solomon Islands."
In areas where local grids are either non-existent or insufficient to handle the power generated, Stellae Energy plans to produce Green Hydrogen as an alternative, transportable energy carrier. This will enable remote communities, commercial and industrial facilities, and the land and marine transportation sectors to access clean energy, further supporting regional sustainability and resilience.
Stellae Energy is committed to working closely with the government and communities of the Solomon Islands to ensure that the development of geothermal resources is conducted responsibly, with respect for the environment and local cultures.
About Stellae Energy:Stellae Energy is a UK-based Green Energy Solutions and Assets company focused on the exploration, development, and operation of renewable energy projects. With a commitment to sustainability and innovation, Stellae Energy aims to provide reliable, clean energy solutions to communities around the world. We have been well supported by the UK government''s Foreign, Commonwealth & Development Office (FCDO) for our international work. The company is in the process of raising investment capital for the exploration phase of this transformational opportunity and several Geothermal development projects. The company is also expanding its Board of Directors and appointing Senior Advisors for the upcoming equity raise.
This press release announces Stellae Energy Ltd.''s ongoing collaboration with the Solomon Islands to develop sustainable geothermal power projects, highlighting the 2023 MOU signing and the continued technical and commercial work for a forthcoming Pre-Feasibility Report.
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For those of you who are already working with us on this exciting opportunity, thank you so much for your continuous support.
The Solomon Islands are a Western Tropical Pacific archipelago of 21# major islands and almost 1,000 smaller islands scattered across 1500 km, located to the northeast of Australia and east of PNG.
As a result of having to rely on expensive, imported diesel for power generation, electricity on the Solomon Islands is some of the most expensive electricity in the world right now. Solomon Islands needs better, domestic access to energy and affordable energy will support economic development.
The capital of Honiara has a population of ~85,000 with a developed economy but adversely affected by the high price of electricity. The island of Guadalcanal has an additional distributed population of ~80,000. With an overall country population of ~720,000, it has been estimated that less than 20% of the population are connected to an electrical grid which means people may have challenges with Energy Poverty and Affordability.
Savo Island is a volcanic island located about 15km offshore from the capital Honiara. This island is classified as an active volcanic island due to the presence of surface manifestations (i.e., hot springs, fumaroles, and gas emissions). The last eruptions were in the mid 1800''s and the last large scale eruption was in mid 1400''s. From the presence of these surface manifestations, it was apparent that subsurface hydrothermal reservoirs exist that might be able to be utilised to produce clean, renewable energy in the form of geothermal electricity.
The Solomon Islands formed along the converging Indo-Australian and Pacific Plates. Prior geological studies observed thatthe complex tectonic evolution of this region has resulted in two stages of arc development and has influenced the magmatic character of these island arc volcanoes. The formation of Savo Island occurred during the most recent phase of arc volcanism. Savo Island is an andesitic-dacitic stratovolcano that was formed over a significant period of time, rising up from the seabed through the water column until it pierced the water surface and formed the island visible today.
The volcanic deposits are dominated by sodic, alkaline lavas and pyroclastic rocks.
The proposed Savo Island Geothermal Project will have several project phases including some of the activities listed below (but not limited to this selection):
o Surface surveys (topography, bathymetry, updated drilling location and flowline route surveys)
o Appraisal Wells (shallow boreholes/slim hole wells, production/injection testing)
o Development ESIA (development drilling, construction and installation of power generation facilities and transmission line facilities)
o Front End Engineering Design (FEED)
o Development Wells (larger diameter production wells and potential repurposed/modified slim hole wells)
o Facilities engineering, analyses and designs
o Fabrication and construction of infrastructure, equipment, flowlines
o Pre-commissioning and Commissioning / Start-up
o Safety and control systems monitoring
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