Coalition promises $85m for clean energy

SANTOS, Petratherm and Cool Energy are among the companies that would benefit from $85 million of clean energy grants if the Coalition wins this Saturday’s election.
Coalition promises $85m for clean energy Coalition promises $85m for clean energy Coalition promises $85m for clean energy Coalition promises $85m for clean energy Coalition promises $85m for clean energy

Petratherm would be the biggest beneficiary, with $50 million to develop its Paralana hot rocks project in South Australia’s Flinder Ranges.

The joint venture project with Beach Petroleum aims to build a 30MW power plant.

Environment Minister Malcolm Turnbull said a re-elected Coalition Government would also give $20 million to Cool Energy’s demonstration of its CryoCell technology.

The process removes carbon dioxide from gas streams as a liquid that can be readily used for geosequestration or miscible flood-enhanced oil recovery.

In addition, $10 million would go to Santos for carbon capture at the company’s Moomba oil and gas fields in northern SA.

The Coalition also promised $5 million for Seapower and Carnegie Corporation to build a wave energy plant using the CETO technology.

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