The Coalition Government is in the early stages of considering how the abundant but underutilised natural resource could be used to bolster energy security, as well as in applications such as tourism, mineral resources, science and technology, regional and Māori economic development.

“Today’s hui with iwi from around the Taupō Volcanic Zone is an opportunity to discuss the potential of supercritical geothermal technology, which the Government has ring-fenced up to $60 million from the Regional Infrastructure Fund to explore,” Mr Jones says.

Supercritical geothermal is sourced from extremely hot rock heated by magma. At present, conventional geothermal wells are drilled to a maximum depth of about 3.5km but scientists believe by drilling beyond this, possibly to 6km deep, the energy output could be up to three times greater than traditional geothermal energy generated from steam.

“In the longer term this could be a game-changer for New Zealand’s energy sector and potentially internationally, as other countries chase solutions to their energy challenges. Our geothermal resources aren’t at the mercy of the weather gods in the same way renewable energy sources such as hydro, solar and wind are. This is particularly important in the context of energy security,” Mr Jones says.

A total of $5m of the $60m government funding will be drawn down for work on the detailed design and costs of drilling the first of three deep exploratory wells in the Taupō Volcanic Zone.

GNS Science, which is leading the initiative with the Ministry of Business, Innovation and Employment (MBIE), will present to today’s hui on the research done to date to identify possible sites for the three wells.

“Māori have a long history of utilising geothermal resources for heating, cooking, and therapeutic purposes, and are now actively involved commercially in developing and operating geothermal energy generation, glasshouse food production using geothermal heat, and tourism ventures,” Mr Jones says.

“I am excited to start a conversation about where we go next. New Zealand has a proud history of innovation. Harnessing geothermal energy for electricity generation is an area in which we have achieved success and international recognition. Having a geothermal strategy we can all get behind will be invaluable and I want to do that with the experience and expertise Māori will bring.”

Mr Jones is expecting to launch a geothermal strategy later this year.