Vast Solar seeks funding for 50 MW Australian CSP-PV hybrid

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Vast Solar, the developer of a 30 MW CSP technology with 10 hours of storage and a 20 MW PV facility, has sought a finance for a total of AUD75 million (US$53 million) from oil companies, Australian utilities as well as renewable energy investors in the Middle East and China. The company is also talking to the Australian Renewable Energy Agency, the Clean Energy Finance Corporation and the governments of NSW, Queensland and South Australia as it considers several alternative sites in those states.

The Jemalong solar hybrid plant is located in the central west region of New South Wales, south-east Australia. The facility with CSP technology uses sodium as a heat transfer fluid to capture concentrated solar energy that can then be stored and used on demand, on the utility-scale.

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