$135 million green energy investment for SA

The provision of alternate energy has received a boost with an announcement that the State's first Geothermal Exploration Licences have been offered.

Minerals and Energy Minister Wayne Matthew says that three geothermal exploration licences will be offered to three applicants for areas in the Moomba Field and Nappamerri Trough areas of north eastern South Australia.

The successful applicants are Geodynamics Limited, Scopenergy Limited (associated with the University of New South Wales) and South Australian Geothermal Energy Pty Ltd (in joint venture with the CSIRO and Beach Petroleum).

Geothermal energy harnesses the earth's heat for the provision of electricity, reducing the need for the burning of fossil fuels.

Mr Matthew says the successful applicants will spend up to $135 million over the next five years, including proposals to construct and operate a number of electricity generating plants driven by tapping the high levels of subsurface heat in the region.

Item provided courtesy of Science Industry