Adelaide Advertiser
Friday 6/3/2009 Page: 70
SA GEOTHERMAL explorer Petratherm will apply for a Federal Government grant of up to $100 million to set up a 30 MW demonstration project at its Paralana joint venture project. On behalf of partners TRUEnergy and Beach Petroleum, it has registered interest for a share of the $435 million Renewable Energy Demonstration Program.
The project's financially strong partners, potential to provide large-scale base load power, technical strengths and strong management capability would make a "compelling and competitive application", managing director Terry Kallis said. The REDP program is designed to accelerate commercialisation and deployment of renewable energy technologies for power generation across Australia. Petratherm shares closed 2c higher at 32c last night, while Beach Petroleum closed 0.5c higher at 78.5c.
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