The Australian Government invites geothermal companies to submit applications for funding under Round 2 of the $39 million US ($50 million AUS) Geothermal Drilling Program that will provide grants of up to $5.5 million US ($7 million AUS) on a matching-funding basis to support the drilling of deep geothermal wells and help finance geothermal proof-of-concept projects. Minister for Resources and Energy Martin Ferguson said, “Geoscience Australia estimates that if just one per cent of Australia’s geothermal energy was extracted it would equate to 26,000 times Australia’s total annual energy consumption.”

The deadline for submissions is August 4, 2009. Two successful Round 1 applicants, MNGI Pty Ltd and Panax Geothermal Limited, received $11 million US ($14 million AUS) as indicated in our April 22, 2009 edition. (Source: Minister for Resources and Energy, June 9, 2009)

Contact: Geothermal Drilling Program, Department of Resources Energy and Tourism, +61 02 6276 1658, GDP@ret.gob.au, www.ret.gov.au, Round 2 Information Guide, Application