The REDP is a $435 million competitive grants program designed to accelerate the commercialization and deployment of new renewable energy technologies for power generation in Australia. The program provides grants for eligible renewable energy power generation demonstration projects, of up to one third of the eligible expenditure on the project (projects are expected to be in the range of $50-$100 million). Successful Applicants to the Federal government’s REDP are expected to be announced in mid 2009.
Greenearth Energy’s managing director, Mark Miller commented, “We are more than satisfied that our REDP application meets all the required merit criteria and has the potential to deliver emissions free, base load, renewable geothermal power to one of Australia’s most carbon exposed industrial communities.
We have a significant geothermal resource with scalability potential from an initial 10.7MW to 48MW and beyond. We are close to existing transmission grid infrastructure, major emitting industries, urban growth areas and have the support of industry and community alike.”
“If there was ever an ideal set of circumstances for the development of base load renewable energy to demonstration stage then to our way of thinking this opportunity in the Greater Geelong region is it” said Miller.
