RCS - Star Energy Group - Government White Paper on Deep Geothermal Energy

Star EnergyAnnouncement

17/07/2023 13:00

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RNS Number : 2556G  Star Energy Group PLC  17 July 2023

RNS REACH

17 July 2023

Star Energy Group Plc

("Star Energy" or "the Company")

 

Government White Paper Published on Deep Geothermal Energy

 

·    Star Energy Group Plc, the British energy company spearheading the
development of geothermal in the UK, welcomes the recommendations in the
Government White paper published today.

·    Calls on government to work with industry to deliver geothermal
energy and to move quickly to unlock its potential.

·    There is a huge opportunity to use geothermal energy to drive towards
net zero and decarbonise the NHS saving emissions between 1.3 -22.7 kt CO(2)
per year for individual hospital sites.

 

A Government white paper
(https://mcusercontent.com/8027fde9ba31fd5636a4f52c2/files/725a53d3-885e-c809-4a99-358d97207118/Geothermal_White_Paper_Report.pdf)
on deep geothermal energy funded by the Department for Energy Security and Net
Zero ("DESNZ"): 'The case for deep geothermal energy - unlocking investment at
scale in the UK' was published today.

 

Chris Hopkinson, CEO of Star Energy, said:

 

"We welcome today's white paper (which follows swiftly on the heels of the
recent report by Dr Kieran Mullan MP - Dig Deep
(https://www.drkieranmullan.org.uk/sites/www.drkieranmullan.org.uk/files/2023-06/Dig%20Deep%20June%202023.pdf)
), particularly its call for government to work closely with industry to
assist with the development, understanding and financing of geothermal so it
can be delivered at scale.

 

 "There's a homegrown, local solution to decarbonising heat sitting right
beneath our feet, but our industry needs government support to develop it.

 

"The potential for geothermal is clear. Just look at our projects with NHS
Trusts in Manchester and Salisbury where we are using geothermal to help them
decarbonise and replace fossil fuels.  The White Paper highlights the NHS as
one of the key beneficiaries of developing geothermal, with the top-ranking 30
NHS hospital sites (based on heat demand) saving emissions of 281 kt CO2
equivalent per year."

 

Star Energy is undertaking several projects across the UK to use geothermal
and harness its significant benefits. These include advanced NHS projects in
Salisbury and Manchester to assist with the heating of the local hospitals
which will, as the report agrees, assist with emissions savings across the NHS
on a significant scale.

 

As the white paper recommends, the sector needs support to encourage the
development of pilot schemes and assistance in scaling up the use of
geothermal. Government has a critical role to play in this and we hope it acts
on this report and works with leading businesses like Star Energy.

 

Star Energy calls on government to move forward quickly to review the
available incentive schemes for geothermal energy and existing funding for
public sector schemes for heat projects to facilitate funding of public sector
geothermal projects.

 

ENDS

 

For further information please contact:

Star Energy Group plc
 
Tel: +44 (0)20 7993 9899

Ann-marie Wilkinson, Chief Communications Officer

 

Canaccord Genuity (Joint Corporate Broker)
                    Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

 

Vigo
Consulting
Tel: +44 (0)20 7390 0230

Patrick d'Ancona/Finlay Thomson/Kendall Hill

 

 

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