The Australian Renewable Agency (ARENA) has announced $3 million in funding to RayGen Resources Pty Ltd (RayGen) to conduct a technical and commercial feasibility study for a 4MW 'solar hydro' power plant to be built in north-western Victoria.
In a world-first, the Melbourne based renewable energy startup RayGen is proposing to build a fully dispatchable renewable energy facility that will use their concentrated solar PV technology known as PV Ultra.
This technology will be combined with their Thermal Hydro technology to generate renewable energy and provide large scale energy storage.
The grid-scale power plant is proposed to be built in Carwarp near Mildura capable of providing 4MW of solar generation and 17 hours of storage.
The $6 million first phase will get the project to financial close and shovel ready for construction.
RayGen will be working with AGL and GHD on this initial phase which will include technical and commercial feasibility studies, commercial assessment, a connection agreement, offtake agreements, capital raising and a planning permit for a preferred site.
(Source: ESI Africa)