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.