Saturday, 23 August 2014
Last updated 14 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note