ADELAIDE, Nov 20 AAP - The coalition has pledged $85 million for clean energy initiatives, including $50 million for a South Australian company pioneering geothermal power.

Wave, clean coal and gas projects also were promised funding from the coalition if it wins Saturday's election.

Environment Minister Malcolm Turnbull said SA-based company Petratherm would receive $50m grant to commercialise its Paralana project in the SA's northern Flinders Ranges.

The joint venture project with Beach Petroleum aims to build a 30 megawatt power plant to deliver electricity into the local market.

Mr Turnbull said a re-elected coalition government would give $20m to Perth-based Cool Energy's demonstration of technology to capture carbon emissions from gas plants.

And $10m would go to SA oil and gas company Santos for carbon capture at the company's Moomba fields in SA's far north.

The coalition also promised a $5m grant for Perth-based Carnegie Corporation to develop a wave energy plant.

Mr Turnbull also said a re-elected coalition government would create a national geothermal research institute in Adelaide.
"It's an enormous technological change that we have to achieve in the coming decades," Mr Turnbull told reporters in Adelaide today.

"We are committed ... to a practical outcome, one that will ensure that we don't just set targets for the sake of getting a headline but we achieve a zero emission energy world in the course of the next decades, by mid century - that is what we need, if we don't do that, we won't meet any of the goals that the IPCC (Intergovernmental Panel on Climate Change) writes about."

Mr Turnbull denied the funding promises were designed to steal a lead from the Labor Party on climate change.

"The Labor Party's position on climate change is a very weak one, Labor is long on symbols, short on substance," he said.

"What we have announced today are examples of practical action, this is a government that gets things done - when we set a target, we meet it."

Mr Turnbull also announced a returned coalition government would provide $50m in funding to promise urban water sustainability in Adelaide, focussed on improving harvesting rain water.