Firm rocks on with geothemal bid

Jessica Benton
A GREEN energy company is trying to set up a $63 million demonstration geothermal power plant at Moriac despite a Federal Government funding knock-back.
Greenearth Energy managing director Mark Miller said the company had lodged a new bid for federal funding to build a plant capable of generating 10.7 megawatts of electricity.
The proposed plant would draw heat from hot rocks underground to create electricity.
The company was seeking $19 million from the Government and $44 million from investors, Mr Miller said.
“We’re currently in talks with stakeholders but we need more people to show interest and come forward.”
Mr Miller said the Government rejected the first funding application because the company did not have its finances in place.
The Independent revealed in October that the region was a “potential target” for geothermal power, with plans to create Victoria’s first renewable energy hub.
Greenearth Energy investigated the area for “wet hot rocks” to generate renewable, green energy. Initial tests found potential to produce 150 times more energy than Victoria uses in a year.
The Government will announce successful applicants in August.