Stellae Energy, a UK-based green energy solutions and assets company, is pleased to announce the launch of a geothermal energy venture in the Western Tropical Pacific. Our goal is to develop economically sustainable geothermal power projects by harnessing abundant volcanic island arc energy resources in collaboration with regional governments through Public-Private Partnerships (PPPs). Countries in this region have some of the highest electricity costs in the world right now due to the use of expensive, imported diesel power generation that has limited electrification and economic development. We have previously announced the signing of detailed MOU's with the governments of Vanuatu, Solomon Islands, and the Autonomous Region of Bougainville and discussions are ongoing with other regional governments.
In parallel with these developments, Stellae Energy has launched a funding round to support the expansion of our geothermal projects and facilitate the next stages of development. The capital raised will help drive the exploration and production phases, as well as advance infrastructure and pilot plant construction. Additionally, we are onboarding senior advisors and engaging potential board members with deep expertise in the geothermal energy sector, project finance, and international development to strengthen our leadership team and ensure the success of our initiatives.
Stellae Energy has been actively working together with the various government ministries and departments of each country where we have signed detailed MOU's to gather technical and commercial information necessary for comprehensive Pre-Feasibility Reports. These reports have detailed the good potential of geothermal resources and outlined the roadmap for project development in each country.
"We are excited about the opportunity to partner with governments in this region 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 their countries."
The goals of these geothermal energy initiatives include:
(1) providing a reliable and sustainable energy resource for each country;
(2) enhancing energy security and reducing dependency on imported fossil fuels;
(3) supporting economic development and creating job opportunities within local communities; and
(4) contributing to global climate change mitigation efforts by reducing greenhouse gas emissions.
Stellae Energy remains committed to working closely with regional governments, local communities, and landowners to ensure the responsible development of geothermal resources, with a focus on environmental stewardship and respect for local cultures.
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 green 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 is raising investment capital for the appraisal phase of these transformational opportunities.
This press release announces Stellae Energy's regional geothermal company for the Western Tropical Pacific volcanic island arc nations to develop sustainable geothermal power projects, highlighting the prior signing of detailed MOU's, the ongoing technical and commercial work for Pre-Feasibility Reports, and the raising of investment capital
