Wednesday, 27 May 2015
Last updated 6 hours ago
Nov 10 2009 | 5:45pm ET
Australia’s Geodynamics has received $90 million in funding under Australia’s Renewable Energy Demonstration Project (REDP) for a 25MW geothermal power plant in the Cooper Basin.
The funding will be awarded over the life of the project with the final grant payment to be made following the plant’s commissioning, expected in late 2013.
Geodynamics uses Hot Fractured Rock (HFR) technology to extract heat from broken granite beneath the earth’s crust.
The Cooper Basin plant is intended to demonstrate cost effective technology at a commercial scale and, it is hoped, inspire lenders to finance the commercial rollout of subsequent units and transmission lines.
The award was announced by the Australian Resources & Energy Minister, Martin Ferguson, under the REDP, which has awarded funding totaling A$235 million ($215 million) to four renewable energy projects, aimed at meeting the government's target of generating 20% of the country’s energy needs from renewable sources by 2020.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…