Connect with us

Hi, what are you looking for?


Clean Power

RayGen Secures Partial Funding For 100MW CSPV Plant In Victoria

Originally published on RenewEconomy.
By Sophie Vorrath

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.

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.

RayGen’s pilot CSPV plant in Newbridge, VictoriaCompletion 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.

Reprinted with permission.

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

We publish a number of guest posts from experts in a large variety of fields. This is our contributor account for those special people, organizations, agencies, and companies.


You May Also Like

Clean Power

In this time of global cost of living crisis, community housing tenants in Adelaide’s north will enjoy reduced power bills following the installation this...

Clean Transport

Australia’s Woolworths Group, which is not related to South Africa’s Woolworths, has announced that it aims to make all its home delivery trucks 100%...


Brisbane, Queensland, has won the bid for the 2032 Olympic and Paralympic games. These games are the first required to be “climate positive.” In...


Aline repeated this phrase “the good old days” many times as we enjoyed a coffee together in Brisbane, Queensland. I was intrigued by what...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.