Adelaide Advertiser
Thursday 21/8/2008 Page: 74
Geothermal energy projects will be eligible for Federal Government funding of up to $7 million, under guidelines announced by Federal Resources Minister Martin Ferguson yesterday. Mr Ferguson launched the government's $50 million geothermal drilling program, which was first announced in June. He said geothermal energy had "truly staggering" potential for Australia, as the world faced up to climate change.
"Geothermal energy provides clean base-load power and is potentially a very important contributor to Australia's energy mix," he said, as he launched the fund in Melbourne yesterday. "We could now see Australia's first commercially viable geothermal power plants in place within four to five years." Mr Ferguson said that just 1 per cent of Australia's geothermal energy would provide enough electricity to meet the country's power needs - 26,000 times over.
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