A total of four grants valued at A$26m allocated under the government’s Geothermal Drilling Program were not taken up as small listed companies – Greenearth Energy, Torrens Energy, Hot Rocks, and Green Rock – were not able to match funding under the terms set out by the government.
The companies say in a joint statement that poor economic conditions over the past year combined with the terms of the GDP grant programme limited their ability to attract project funding.
The
