Geothermal Drilling Program
The Geothermal Drilling Program (GDP) provided assistance to companies seeking to develop geothermal energy with the cost of proof-of-concept projects including drilling geothermal wells. The GDP was a competitive merit-based grants programme provided as a dollar-for-dollar matched funding up to 50% of the total eligible expenditure. The program allocated seven grants of $7m each over two rounds. Four of the five GDP Round 2 funding agreements were terminated by mutual agreement in 2011 as the recipients were unable to meet the deadline for evidence of matching finance for the project. The remaining projects have transferred to the Australian Renewable Energy Agency (ARENA).
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