Green Rock grant for WA geothermal
Australian hydrocarbons and geothermal developer Green Rock Energy has received confirmation of state funding of $5.38 million for its Mid West geothermal power project.
The company received notice for funding earlier this week from Western Australian government’s Low Emissions Energy Development (LEED) fund.
Green Rock believes the success of their application will give weight to their case for receiving funding from the Commonwealth’s Emerging Renewables Programme. Executive Chairman Richard Beresford said Green Rock were keen to cover most of the costs of at least the first well by funding from Emerging Renewables Programme and LEED funds.
The funding award for Green Rock is built on agreements with Pacific Hydro and geothermal company New World Energy. Green Rock and New World Energy last year agreed to develop the geothermal exploration permits of the two companies in WA’s mid west region. Green Rock will operate the first stage of the development, aiming to target the best area for the two wells. The first well is planned for drilling in 2013 and would have an initial capacity of up to 5MW and connecting to existing infrastructure.
In 2011, Pacific Hydro and Green Rock agreed to develop geothermal projects in the Great Artesian Basin and the North Perth Basin. The initial projects are looking at a minimum of 25MS in both basins.
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