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Federal boost for geothermal projects
Federal boost for geothermal projects
Friday November 6, 2009, 2:00 pm Two South Australian renewable energy projects will receive grants from a federal investment program. Petratherm will receive almost $63 million to help develop its 30-megawatt Paralana geothermal energy project near the Beverley uranium mine. Geodynamics will receive $90 million for its 25-megawatt hot-rocks project in the Cooper Basin. Federal Resources and Energy Minister Martin Ferguson says the Geodynamics 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, geothermal has great opportunities."
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