Australian solar technology developer RayGen Resources says it will accelerate the time line for its first major commercial-scale project for its concentrated solar PV technology (CSPV), and intends to have a 10MW system built in China within two years.
The Melbourne-based RayGen, which has a small pilot facility in Victoria, says the deal with China Intense Solar will see a 200kW pilot plant completed by March, 2015, followed by a 1 MW demonstration soon after.
It says the commercial-scale project – capable of delivering power to thousands of homes China – will be delivered by August, 2016. It brings forward key project milestones originally laid out over a five-year period as part of a $60 million investment and distribution agreement signed with China Intense Solar in April this year.
“They are keen to make more significant inroads in addressing China’s air quality issues and they see RayGen’s world- leading CSPV system playing a key role towards this goal,” RayGen CEO Bob Cart said in a statement,
Cart said Australian technology innovation was capable of producing strong returns for the Australian economy, including the creation of jobs and economic activity as the sector continued to grow.
He repeated his view that CSPV exports from Australia could total more than $1 billion before the end of the decade. He has also said that his technology could deliver electricity at a levelled cost of energy of $60/MWh.
“The agreement with China Intense Solar reinforces that leading-edge technology solutions developed right here in Australia can find real and significant export markets into the world’s major economies”, he said.
RayGen is a finalist in the 2014 Australian Technologies Competition supported by the Department of Industry. The winner will be announced later Tuesday.