World's 1st Solar-Hydro Plant for Longer Duration Energy Storage: ARENA
- On behalf of the Australian Government, the Australian Renewable Energy Agency (ARENA) has today announced $15 million in funding to RayGen Resources Pty Ltd (RayGen) to construct its very first of a kind 'solar hydro' nuclear power plant making up 4 MW of solar PV generation and 3 MW/ 50 MWh (17 hours) of dispatchable storage ability in north-west Victoria.
RayGen's 'solar hydro' power plant consists of RayGen's proprietary PV Ultra, a focusing photovoltaic or pv solar co-generation tower, incorporated with its trademarked electro-thermal storage space. RayGen's concentrated PV technology creates warmth as a spin-off which is captured as well as utilized for thermal storage. The electro-thermal storage space system consists of an Organic Rankine Cycle (ORC) wind turbine, industrial chillers and 2 shielded water-based thermal storage pits or tanks, each about the size of four Olympic size pool. One of the reservoirs is maintained a temperature level of 90 levels and the other at close to 0 degrees, and the temperature level distinction is made use of to generate dispatchable electricity using ORC wind turbines.
RayGen's 'solar hydro' technology offers a renewable, modular as well as scalable option to the emerging requirement for longer duration storage space that has actually been recognized by the Australian Energy Market Operator in its Integrated System Plan.
The $30 million project includes this fully dispatchable renewable energy center as well as a new production center that will allow RayGen to plan for projection growth and also growth of its project pipeline in Australia.
RayGen expects that subsequent bigger range projects will certainly achieve the Low Emissions Technology Statement stretch objective of supplying firmed renewables for under $100/ MWh.
The demo scale facility will be situated in Carwarp, Victoria near Mildura, and also will certainly export eco-friendly electricity to the National Electricity Market (NEM). The project will take part in wholesale energy and also Frequency Control Ancillary Services (FCAS) markets when functional, and also is eligible for Massive Generation Certificates.
The firm has effectively finished a capital raising for $27 million in equity from celebrations including AGL, Schlumberger New Energy, Photon Energy, and also Chevron Technology Ventures together with brand-new and present financiers. RayGen has actually also discussed an offtake contract for the project with AGL.
The project improves an usefulness research and also growth work supported by an ARENA give of $3 million that was introduced in March 2020.
ARENA CEO Darren Miller said the success of RayGen's ingenious technology offers an exciting opportunity to attend to Australia's arising longer period storage space demands.
" RayGen's technology has lots of benefits for the energy market as we proceed the energy system makeover being driven by renewables. Much like integrating pumped hydro as well as a standard solar farm, RayGen's technology can give longer period firming for renewable energy generation. We are especially interested in the capacity for RayGen's technology to provide firmed renewable energy at a really affordable cost.
" ARENA has actually been a strong advocate of RayGen for years currently and we are actually delighted to be supporting an Australian company at the reducing side of renewable energy technology."
ARENA previously supported RayGen with a total of $8.67 million in funding to create its PV Ultra technology and develop the 1 MW PV Ultra pilot project in Newbridge, Victoria. The pilot project has actually been operational for over two years powering a neighborhood mushroom farm.