Legislature(2023 - 2024)BARNES 124
03/02/2023 10:15 AM House ENERGY
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| Audio | Topic |
|---|---|
| Start | |
| HB74 | |
| Presentation: Green Hydrogen and Alaskan Geothermal | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | HB 74 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| + | TELECONFERENCED |
HB 74-GEOTHERMAL RESOURCES
10:16:35 AM
CHAIR RAUSCHER announced that the first order of business would
be HOUSE BILL NO. 74, "An Act relating to geothermal resources;
relating to the definition of 'geothermal resources'; and
providing for an effective date."
10:17:33 AM
PAUL CRAIG, President, GeoAlaska, LLC, stated that GeoAlaska has
two Geothermal exploration permits, on Mt. Spurr and Augustine
Island. He said that GeoAlaska and Ignis Energy have worked out
an agreement to partner together in efforts to develop
geothermal energy at those sites. GeoAlaska fully supports HB
74 and views it as a necessary step in the development of
geothermal resources, as the current length of time for permits
under current statute is too short to discover the feasibility
of a geothermal plant in a given area. He said that the current
instability of royalty structures also makes it more difficult
to secure investors. He stated that the oldest geothermal
project in the world was created in 1904 in Tuscany, Italy, and
it is still producing geothermal energy today.
10:26:40 AM
GUY OLIVER, PhD, Geoscience and Exploration Leader, Ignis
Energy, stated that Ignis Energy supports HB 74 as written.
Ignis Energy is a worldwide leader in connecting different
sources of energy with geothermal sources of energy in order to
meet energy demand. He said that Ignis has been doing work in
the state of Alaska for over 20 years. Its aim in Alaska is to
greatly increase the development of Alaska's "underutilized"
geothermal resource potential. He said that the extra time to
explore provided in HB 74 is a vital step in increasing
geothermal power, especially because of Alaska's weather
patterns limiting the amount of work that can be done during
certain parts of the year.
10:33:11 AM
REPRESENTATIVE PRAX asked when the projects at Mt. Spurr and
Augustine Island could be expected to start producing energy.
DR. OLIVER answered that if according to plan, geophysical data
is expected this year, a test well is expected by summer 2024,
and the total time it is expected to take to start producing
energy is 5 or 6 years from now.
10:36:14 AM
GEOFF SIMPSON, Landman, Cyrq Energy, stated that Cyrg Energy is
a subsidiary of Macquarie Infrastructure and Real Assets, the
largest infrastructure company in the world. Cyrg has 10
ongoing geothermal projects around the world, including Alaska,
and fully supports HB 74.
10:38:37 AM
CHAIR RAUSCHER opened public testimony on HB 74.
10:39:09 AM
PAUL FUHS, CEO, Alaska Hydrogen Industries, testified in support
of HB 74. He stated that geothermal energy is sustainable long-
term, and the provisions in the bill changing the royalty
structure would create stability for geothermal energy.
10:40:32 AM
CHAIR RAUSCHER closed public testimony on HB 74 after
ascertaining nobody else wished to testify.
[HB 74 was held over.]
| Document Name | Date/Time | Subjects |
|---|---|---|
| House Energy Committee 3.2.2023 pdf-compressed.pdf |
HENE 3/2/2023 10:15:00 AM |
Alaska Green Hydrogen Geothermal |