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Sparty
11-06-2009, 03:58 AM
Federal boost for geothermal projects
Friday November 6, 2009, 2:00 pm

Two South Australian renewable energy projects (http://au.search.yahoo.com/search?p=renewable%20energy%20projects&fr=sfy_cl_au) will receive grants from a federal investment (http://au.search.yahoo.com/search?p=federal%20investment&fr=sfy_cl_au) program.

Petratherm will receive almost $63 million to help develop its 30-megawatt Paralana geothermal energy project near the Beverley uranium (http://au.search.yahoo.com/search?p=beverley%20uranium&fr=sfy_cl_au) mine.

Geodynamics (http://au.search.yahoo.com/search?p=geodynamics&fr=sfy_cl_au) will receive $90 million for its 25-megawatt hot-rocks project in the Cooper Basin (http://au.search.yahoo.com/search?p=cooper%20basin&fr=sfy_cl_au).

Federal Resources and Energy Minister Martin (http://au.search.yahoo.com/search?p=minister%20martin&fr=sfy_cl_au) Ferguson says the Geodynamics (http://au.search.yahoo.com/search?p=geodynamics&fr=sfy_cl_au) project could become a major generator of emissions-free power.

"This project will be the world's first multi-well hot fractured rock power project," he said.

"In essence, in terms of geothermal we are testing two different technologies. I must say in terms of potential base load-reliable power (http://au.search.yahoo.com/search?p=reliable%20power&fr=sfy_cl_au), geothermal has great opportunities."