New Push for Aussie Solar: Tindo Pitches $100m Mod Gigafactory
- Adelaide-based Tindo unveils plans to build a $90-100 million "gigafactory" in Australia, backed by federal government support. The ambitious project relies on ARENA funding, state initiatives, and the 2022 IRA. With the right support, Australia's last remaining solar panel producer can kick start a domestic upstream supply chain.
Adelaide-based solar manufacturer Tindo has unveiled plans to build a $90-100 million solar panel “gigafactory” in Australia, with the intention of it being in production by mid-2025. Tindo CEO Richard Petterson believes the project can be completed with the right federal government support. He is eyeing potential sites in regional New South Wales and Queensland and has Letters of Intent from potential offtakers. The budget for the ambitious project is based on recent experience, after the company opened an expanded 150MW factory in Adelaide in July, 2023. Petterson is relying on government support from the $15 billion National Reconstruction Fund, ARENA funding, and state initiatives to realize the venture. He is also calling for price support for the end product to incentivise investors to support the initial idea. Australia is yet to come up with a response to the 2022 Inflation Reduction Act (IRA). Nevertheless, ARENA has already given SunDrive $11 million to take its low cost solar panel from prototype to a 100MW commercial plant, and also funded a $1.2 million Silicon to Solar study. Tindo is the last remaining solar panel producer in Australia, and estimates that a 1GW factory is the scale needed to kick start a domestic upstream supply chain for solar panels.
What Government Support Does Tindo Need for its $90-100 Million Gigafactory?
Government support Tindo needs for its $90-100 Million Gigafactory:
- Funding from the $15 billion National Reconstruction Fund
- ARENA funding
- State initiatives
- Price support for the end product to incentivise investors
- Responses to the 2022 Inflation Reduction Act (IRA)
- Funds for SunDrive to take its low cost solar panel from prototype to a 100MW commercial plant
- Silicon to Solar study
