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
geothermal exploration permits on Mount 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 these sites. He expressed GeoAlaska's
support for HB 74, as it is a necessary step in the development
of geothermal resources. He argued that the current length of
time for permits under current statute is too short to discover
the feasibility of geothermal plants. 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, Leader, Geoscience and Exploration, Ignis
Energy, expressed Ignis Energy's support for HB 74, as written.
He explained that 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 Alaska for over 20 years, with the aim to
greatly increase the development of Alaska's "underutilized"
geothermal resource potential. He said that the extra time to
explore provided in HB 74 would be a vital step in increasing
geothermal power, especially because the weather patterns in the
state limit the work that can be done during certain parts of
the year.
10:33:11 AM
REPRESENTATIVE PRAX asked when the projects at Mount Spurr and
Augustine Island could be expected to start producing energy.
DR. OLIVER answered that, according to plan, geophysical data is
expected this year, with a test well by the summer of 2024. He
stated that the total time to start producing energy would be
five or six 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. He stated that
Cyrg has 10 ongoing geothermal projects around the world,
including in Alaska. He expressed Cyrq Energy's support for 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 would be sustainable
in the long-term, and the provisions in the bill changing the
royalty structure would create stability for geothermal energy.
10:40:32 AM
CHAIR RAUSCHER, after ascertaining that there was no one else
who wished to testify, closed public testimony on HB 74.
[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 |