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Australia Scraps A$100 Million Grant to HRL’s Proposed Gas Plant

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July 27 (Bloomberg) -- The Australian government won’t provide a A$100 million ($104 million) grant to HRL Ltd. for the construction of a proposed gas plant in Victoria state because the project didn’t meet the funding conditions.

HRL was given four extensions after reaching an agreement with the federal government in 2008, Energy Minister Martin Ferguson said today in a statement. HRL failed to meet the requirements before the final June 30 deadline, he said.

Australia announced the grant in 2007 to support a 400-megawatt coal-to-gas plant, according to the statement. The company was to receive the money as part of a program to spur the development of technologies to reduce carbon emissions.

To contact the reporter on this story: James Paton in Sydney at jpaton4@bloomberg.net

To contact the editor responsible for this story: Andrew Hobbs at ahobbs4@bloomberg.net

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