The Comm Govt awarded a development grant of $62.8m for a 30MW geothermal demonstration project. The funding was given on a 2:1 basis whereby the Govt provided $2 for every $1 provided by the Govt. Perhaps the withdrawal of TRUenergy had more effect than was first realised. Obviously the reason for on going discussions with other interested parties.
I also seem to think that there is still a $2.8m grant available on a dollar for dollar basis to assist with the funding of the Paralana 3 deep well which I think is needed to complete the circulation loop prior to the construction of the trial power plant.
Seems that unless there is an alternative source of capital another partner is essential. Maybe Beach can be persuaded to double up !!!!!!!
kippax
PTR Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
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