The Minister for Resources and Energy, the Hon Martin Ferguson AM MP announced funding of $235 million for successful applicants under the Renewable Energy Demonstration Program (REDP) on 6 November 2009.
For further information, please see the Minister's press release.
The four successful projects include:
MNGI Pty Ltd - $62.762 million grant
The 30MW Paralana Geothermal Energy Project is an engineered geothermal system (EGS) project, based on Petratherm's 'Heat Exchanger Within Insulator' (HEWI) model. The Paralana project is located adjacent to the Beverley uranium mine.
Demonstration of the Paralana project will provide a sound foundation upon which to underpin the large-scale development and deployment of geothermal energy in Australia.
Geodynamics Limited - $90.000 million grant
The Geodynamics Cooper Basin 25 MW Geothermal Demonstration Project will demonstrate the potential for hot-rock geothermal energy to be a major generator of zero-emission, base-load power. The Project will be the world's first multi-well hot fractured rock power project.
The Project will be located in the north east corner of South Australia in the Cooper Basin, between Moomba and Innamincka, where Geodynamics has assessed its resource as holding geothermal energy sufficient to support several thousand megawatts of electricity generating capacity.
On 23 November 2011, the Department signed a deed of variation with Geodynamics Limited for its 25 MW Cooper Basin geothermal demonstration project. This will allow some REDP funding to be brought forward to assist the company with its new 2-year forward work program.
For further information, please see the Geodynamics ASX release.
Victorian Wave Partners Pty Ltd - $66.465 million grant
Ocean Power Technologies (Australasia) and its partner Leighton Contractors will construct the first commercial scale ocean energy project in Australia.
The 19 MW Victorian Wave Power Demonstration Project involves the staged construction and demonstration of wave power generation using Ocean Power Technologies PowerBuoy technology off Portland, Victoria.
The Hydro-Electric Corporation (Hydro Tasmania) - $15.280 million grant
The King Island Renewable Energy Integration Project will demonstrate the potential for enabling technologies to help integrate renewable technologies into established electricity networks and mini-grid systems in remote areas.
The King Island project is to integrate wind, solar and storage with a biodiesel generator to provide baseload and peak power for the King Island mini grid system, which currently uses diesel generators for its primary energy supply. The integration of these energy sources will require the provision of innovative control mechanisms for load and frequency control.