Two geothermal companies have been selected to receive funding under the first round of the Federal Government’s Geothermal Drilling Program.

MNGI Pty Ltd and Panax Geothermal Limited will each receive a $7 million grant, subject to negotiations, to support the cost of drilling and help finance geothermal proof-of-concept projects, located in Western Australia.

The Western Australian Government will provide $20.5 million to fund new mineral and energy drilling including geothermal exploration and drilling.

In addition, State Acting Mines and Petroleum Minister Simon O’Brien said the Department of Mines and Petroleum had reopened bidding for acreage in the Perth Basin following the recent enthusiastic response to the release of geothermal acreage for exploration in the Carnarvon Basin.

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In other news, Victorian-based company Greenearth Energy has applied to the Federal Government’s Renewable Energy Demonstration Program (REDP) for funding for its 10.7 MW geothermal demonstration project in the Geelong region.

More information on the Geothermal Drilling Program is available at the Australian Government Department of Resources, Energy and Tourism website.