Photon Energy acquires risk in Aussie solar-hydro storage space carbon monoxide RayGen

• Amsterdam-based Photon Energy NV has actually acquired a minority risk in Australia's RayGen Resources Pty Ltd with which it will certainly establish a 100-MWp/1,000-MWh solar-plus-storage project.

Photon Energy stated previously today it has actually gone into a calculated collaboration with the Australian modern technology business, looking for to collectively go after renewable resource projects releasing RayGen's solar and also power storage space innovation. Besides taking an undefined equity risk in RayGen, Photon Energy will certainly likewise be an equity capitalist in a few of the systems as well as additionally serve as a project developer and also building, design and also purchase (EPC) professional.

RayGen's PV Ultra solar innovation is based upon creating power by recording sunshine from an area of mirrors and also concentrating it to a tower-mounted receiver that transforms the power right into electrical energy. The warm drawn out from the procedure is kept in water.

The Aussie company just recently protected AUD 3 million (USD 1.9 m/EUR 1.7 m) in federal government financing for a pilot plant in Victoria that will certainly utilize its modern technology to give 4 MW of solar energy and also 3MW/50MWh of storage space.

"Our financial investment in RayGen is our initial step right into the upstream section of the solar sector as well as it comes with a critical time," claimed Photon Energy's CEO Georg Hotar. He included that the partnership will certainly make it possible for engagement in projects, both on-grid and also at remote off-grid areas.