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PTR MINERALS LTD — Regulatory Filings 2011
May 10, 2011
65621_rns_2011-05-10_eb86c707-a978-40c4-b6bb-e576033bb277.pdf
Regulatory Filings
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PTR welcomes boost to Renewable Energy funding
Petratherm welcomes the significant boost to renewable energy funding recently announced as part of the Federal Budget by The Hon. Martin Ferguson AM, MP - Federal Minister for Resources and Energy, promising additional funding to support emerging renewable energy technologies, such as geothermal power. (Refer attached Media Release by Minister Ferguson)
An additional amount of $60 million has been allocated to the new Emerging Renewables program bringing the funding program to $100 million.
The Emerging Renewables program will be open to support geothermal, solar, wind and wave energy technologies, including hybrid applications such as Petratherm’s Heliotherm project – that seeks to combine geothermal, solar and gas technologies to produce a base-load, lower cost competitive alternative to standalone intermittent energy technologies.
The Emerging Renewables program, which is administered by the Australian Centre for Renewable Energy (ACRE), is expected to be open for application in the coming months.
Petratherm plans to apply for capital grant funding for its Heliotherm project (refer PTR website for additional information on the project) to complement the existing $1.5 million in grants already awarded by the South Australian government.
11 May 2011
ASX Code: PTR
ABN 17 106 806 884
Level 1, 129 Greenhill Road Unley SA 5061
T: +61 8 8274 5000 F: +61 8 8272 8141 W: www.petratherm.com.au/ E: [email protected]
Further support for renewable energy was also announced in the Federal Budget with the $100 million Renewable Energy Venture Capital Fund , aimed at supporting early stage renewable energy companies.
The additional capital funding included in the two programs announced in the Federal Budget is expected to provide the renewable energy industry and in particular the geothermal energy sector, with new opportunities for growth.
Yours faithfully
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Terry Kallis Managing Director
MEDIA CONTACTS:
Terry Kallis Kieran Hall / Tim Hughes
Petratherm Ltd 08 8274 5000 Hughes Public Relations 08 8412 4100