Cash boost for renewable energy projects  

Posted by Big Gav in ,

The Business Spectator reports that the federal government has made some new announcements about renewable energy funding, with geothermal and wave power getting most of the money - Cash boost for renewable energy projects.

The federal government has boosted its investment in renewable energy through $235 million in funding which will go to four commercial-scale projects. Resources Minister Martin Ferguson said the funding - combined with money from the successful applicants to the program - will deliver about $810 million in renewable energy investment in Australia. ...

Petratherm will receive $62.762 million for an engineered geothermal system located adjacent to the Beverley uranium mine, while Geodynamics will receive $90 million for its hot-rock geothermal energy project to be located in the Cooper Basin in the state's north east. The Geodynamics project will be the world's first multi-well hot fractured rock power project.

Victorian Wave Partners will get $66.465 million to construct the first commercial scale ocean energy project in Australia off Portland.

The Hydro-Electric Corporation, or Hydro Tasmania, will receive $15.280 million for its King Island renewable energy integration project. The project will integrate wind, solar and energy storage with a bio-diesel generator to provide baseload and peak power for the King Island mini grid system, which uses diesel generators for its primary energy supply.

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