21Geothermal retention licence

21 Geothermal retention licence (1) A geothermal retention licence is an instrument that: (a) gives the licence holder: (i) the right to occupy the licence area; and (ii) the exclusive right to conduct activities in the licence area that are necessary to evaluate the development potential of the geothermal energy resources discovered in the area; and (2) Activities for evaluating the development potential include any of the following: (a) exploration; (b) appraisal drilling; (c) activities relating to environmental studies, commercial viability assessments and the design of infrastructure necessary for the generation of power. (3) The licence does not give the licence holder the right to produce geothermal energy commercially. (4) The rights of the licence holder may by exercised only in accordance with the conditions of the licence. (5) The licence remains in force: (a) for a period, specified in the licence, of not more than 5 years; or

Geothermal Energy Act 2009 14 (b) if it is surrendered or cancelled before that time – until the surrender or cancellation takes effect.