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This article is taken from todays' PetroleumNews.Net
the last line is off interest to UCG ..

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sg



Clean energy gets big bucks


Wednesday, 13 May 2009

WHILE the oil and gas industry is looking at a budget that is best described as uninteresting, the Australian government has committed to spending $A4.5 billion on its clean energy initiative.



The vast majority, or $2.425 billion, will be spent over nine years to fund industrial-scale carbon capture and storage projects, while $1.6 billion will be invested over six years on supporting the construction and demonstration of large-scale solar power stations.

Geothermal and other renewable energy proponents are set to benefit from the $465 million that has been set aside to fund new body Renewables Australia, which will promote the development, commercialisation and deployment of renewable technologies.

Climate Change Minister Penny Wong said the funding provided the long-term framework and confidence required to create new jobs and businesses in a low-pollution future.

The CCS funding will focus on the development of storage sites in high-emission areas with pipeline infrastructure for the transport of carbon dioxide, as well as integrated projects that demonstrate technologies for CCS from coal-fired power stations.

Coal gasification proponents may also benefit from this funding.