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Panax has completed two separate agreements with Geosyndicate Power Private Limited (GPP) regarding two ‘wet’ geothermal projects in India as follows:
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Puga geothermal project: an advanced and ready to drill test project located in the Himalayan Geothermal Province. |
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Krishna – Godavari project: a ‘wet’ geothermal exploration project targeting a rift or graben associated with high heat flows as well as thermal springs, located in the state of Andhra Pradesh. |
GPP is India’s pioneer in geothermal development. The company has a high quality and well connected Board of Directors, chaired by Prof. D Chandrasekharam of the Indian Institute of Technology, Bombay (IIT).
The location of the above projects in relation to the heat flow map of India is shown on the following page. The phenomenal economic growth of India calls for the need for the development of clean sustainable electricity generation, and attractive commercial incentives are in place. Read the Puga Project summary here. |