London UK, 2 October 2024 – Stellae Energy, a UK-based Green Energy Solutions and Assets company, is pleased to announce the signing of a detailed Memorandum of Understanding (MOU) with the government of Vanuatu in the Western Tropical Pacific. The MOU aims to explore and develop economic, sustainable geothermal power projects harnessing volcanic geothermal energy resources in partnership with the Ministry of Climate Change Adaptation, Meteorology and Geo-Hazards, Energy, Environment and National Disaster Management and the Departments of Energy and Geology.
This partnership represents a significant step towards sustainable energy solutions for Vanuatu, leveraging the country’s rich island arc volcanic geothermal resources. Stellae Energy and our local partners will implement a phased approach to prospecting and production of hydrothermal reservoir systems associated with basalt volcanic structure formations, with a pilot geothermal power plant of ~8 MW being proposed initially.
Following the MOU signing, Stellae Energy has been actively working with good support from the government ministries and departments of Vanuatu to gather technical and commercial information necessary for a comprehensive Pre-Feasibility Report, which will be issued in the next quarter. 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 Vanuatu 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 Vanuatu.”
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.
The geothermal projects aim to:
- Provide a reliable and sustainable energy source for Vanuatu.
- Enhance energy security and reduce reliance on imported fossil fuels.
- Foster economic development and create job opportunities in local communities.
- Contribute to global efforts to combat climate change by reducing greenhouse gas emissions.
Stellae Energy is committed to working closely with the government and communities of Vanuatu to ensure that the development of geothermal resources is conducted responsibly, with respect for the environment and local cultures and landowners.
For more information, please contact:
| General: David Hartell DHartell@StellaeEnergy.com | Investors: Aurangzeb Bozdar ABozdar@StellaeEnergy.com |
About Stellae Energy:
Stellae Energy is a UK-based energy asset 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) and local British High Commissioners. The company soon will be raising investment capital for the appraisal phase of this transformational opportunity and several other similar Geothermal projects.
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This press release announces Stellae Energy’s collaboration with Vanuatu to develop sustainable geothermal power projects, highlighting the 2024 MOU signing and the ongoing technical and commercial work for a forthcoming Pre-Feasibility Report.
