RayGen China deal boosts plans for 100MW CSPV plant in Victoria | RenewEconomy

RayGen China deal boosts plans for 100MW CSPV plant in Victoria

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RayGen Resources secures $2.5m towards planned 100MW CSPV factory in Victoria, boosting plans to ramp up China exports of its award-winning technology.

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Award-winning Australian solar technology start-up RayGen Resources is one step closer to building a $5 million manufacturing plant in its home town of Melbourne after securing $2.5 million in funding for the project from its Chinese joint venture partner, JuYe Solar.

RayGen’s pilot CSPV plant in Newbridge, Victoria

The proposed high volume, repeatable manufacturing line facility – completion of which is subject to a further $2.5m in funding – would expand the company’s existing operations in Victoria, boosting production of RayGen’s  concentrating solar PV (CSPV) technology to as much as 100MW a year at full capacity.

Completion of the new facility is also expected to create more than 200 jobs in engineering, research and development, high-tech manufacturing and head office roles.

The deal, sealed in Beijing on Tuesday at a ceremony attended by Victorian Premier Daniel Andrews, was announced alongside the news that RayGen’s China demonstration CSPV plant had achieved first power production – further proving the reliability and efficiency of its technology.

RayGen – which unveiled its $3.6 million, 200kW pilot CSPV tower plant in the town of Newbridge in March, claims to be the first in the world to combine high efficiency solar cells with low-cost heliostat collector systems.

In the past, the company has also suggested its technology could be the world’s cheapest – provided the right policy support in Australia – and could lead to exports of $1 billion.

With a sunlight-to-electricity conversion rate of 40.4 per cent, RayGen holds the PV system efficiency world record in collaboration with the University of New South Wales.

The Beijing signing ceremony was also attended by executives from state-owned renewables giant China Three Gorges, to which RayGen is contracted to supply a minimum of 500MW of capacity to be built using its Australian-made CSPV technology.

RayGen Chairman and CEO, Robert Cart said in a statement on Tuesday that support from the Victorian Government played an important role in helping the company to forge commercial opportunities for its utility-scale solar power solution.

“The gains we’ve made over the past few years, with funding support from the Victorian Government and agencies like ARENA, demonstrate that Australia can and is, finding significant and lucrative markets for leading-edge technology innovation” he said.

“The potential is enormous and we must be able to deploy quickly to serve the needs of our partners and investors”, he said. “With the capital injection from China, we’re confident we can secure the remaining funds necessary to bring this plant online next year.”

In 2011, RayGen received Victorian Government funding of $1 million awarded under the Sustainable Energy Pilot Demonstration program.

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  1. howardpatr 5 years ago

    Great news but lets hope the new Government, (it feels like that, at this stage), will get behind this and similar developments.

    The Emu Downs Wind Farm in Western Australia could have many of these units interspersed between the turbines.

  2. Ron Horgan 5 years ago

    Great to see things moving in the right direction with positive government support.
    RayGen and all of Australia should be stoked!

  3. john 5 years ago

    My feelings are that if the University of New South Wales has been collaborating then this is absolutely a good technology, that as the article says produces 40.4 per cent efficiency, then this is going to be pretty low cost production without a doubt.
    At these types of conversion rates this technology is going to deliver power that no other technology can compete with in the solar area perhaps wave or wind may be able to get to simular figures however this type of achievement is going to be hard to better in the short term.

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