RayGen’s dispatchable Solar Power Plant receives funding from ARENA, progresses towards financial close
RayGen Resources Pty Ltd (RayGen) has recently formalised an agreement for $3 million in funding from the Australian Renewable Energy Agency (ARENA) to conduct a technical and commercial feasibility study for a flagship solar-plus-storage project to be built at Carwarp in north-west Victoria.
RayGen is proposing to build a fully dispatchable renewable energy facility that will deliver 4MW of solar generation and 3MW/50MWh (17 hours) of storage. This project will provide the National Electricity Market with day-night renewable electricity and support grid reliability. The project will also supply synchronous power where it is critically needed in the West Murray region.
RayGen has partnered with AGL and GHD to conduct commercial and technical assessments of the project and consider the future applications and cost of this technology.
The funding from ARENA will support RayGen to take the project to financial close and make it shovel ready for construction. RayGen is expecting to reach financial close and commence construction of the project this year, with the aim to have the facility commissioned in 2021.
The project will be the world-first deployment of a low-cost electricity storage technology in Victoria that delivers low-cost, long duration energy storage, already less than half the cost of batteries for 10 hours of storage.
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