Vast Solar, an Australian developer of solar thermal, or concentrated solar power (CSP) technology, has received funding of $65 million from the Australian Renewable Energy Agency (ARENA) for its 30MW/ 288MWh reference plant, VS1, in Port Augusta, South Australia.
This utility-scale CSP project, the first of its kind, will anchor Vast Solar’s green technology manufacturing activities in Australia and create hundreds of jobs, including long-term plant operations and green manufacturing jobs.
The plant will use Vast Solar’s world-leading technology that generates clean and low-cost power by capturing and storing the sun’s energy during the day, to be used to generate heat and power, including at night. The Vast system uses sodium as the heat transfer fluid, and turbines similar to those found in coal and gas power plants to generate electricity.
ARENA CEO Darren Miller said in a statement: “Vast Solar’s global recognition as a leader in CSP technology innovation, combined with its significant technical and commercial expertise, mean that it is well placed to deliver Australia’s first large scale CSP plant which should deliver power at a cost competitive with other forms of renewable generation.”
The company is also working with the government on its first full-scale manufacturing facility and is developing another project, VS2, in Mount Isa, Queensland.
Co-located near VS1 will be Solar Methanol 1 (SM1), a Vast Solar-led project that will help to decarbonize hard-to-abate industries. SM1 will be a world-first green methanol reference plant, producing zero-emission fuel for aviation and shipping.
Source: Vast Press Release
Image source of solar methanol production facility: VAST