Geo firm bids for new funds

By Cherie Donnellan
A COMPANY is trying to regain federal funding for a geothermal energy project southwest of Geelong, according to its managing director.
Greenearth Energy’s Mark Miller said he was awaiting funding approval for the project from Federal Government’s emerging renewables program.
A Greenearth Energy study of geothermal energy sources found high levels of “hot sedimentary aquifers” in the Anglesea area in 2008.
Greenearth Energy secured grants of $25 million from State Government and $7 million from the Commonwealth in December 2009. But the federal funding was revoked after the company failed to acquire enough capital through the share market.
Mr Miller said securing funding would allow Greenearth Energy to complete the first two stages.
“We’re currently seeking to establish a suitable site for exploration and a potential demonstration stage within the next few years,” he said.
“We’re hopeful that as result of our application we’ll be able to secure funding to move to the exploration stage.”
Mr Miller said the company expected to announce the final site this month.
“We continue to work in the area with stakeholders and community groups in order to appropriately explain the project and secure a site.”
Federal Member for Corangamite Darren Cheeseman told the Independent he was unaware Greenearth Energy had applied for new funding.
“I haven’t seen Greenearth Energy’s latest application but I will support them in getting further money.”
Mr Cheeseman was aware Greenearth Energy lost its federal funding but believed “it would be good to get the project underway”.
“We absolutely support the development of renewable energy, including geothermal energy, in our region. It will have huge benefits to the western Victorian region.”