THE BOURSE WHISPERER: Solar Systems, the wholly-owned subsidiary of ASX-listed Silex Systems has commenced on-site construction work for the first stage of what is to become Australia’s largest solar power station in Mildura, north west Victoria.
Silex said the project will be the first full-scale commercial deployment of a grid connected solar power station using the ‘Dense Array’ concentrating photovoltaic (CPV) technology of its subsidiary.
Construction works underway at the Mildura solar power station site. Source: Company announcement
The first stage of the project involving the construction of a demonstration facility of up to 2MW capacity is scheduled to be completed in late 2012.
The company said that, subject to satisfactory performance of the demonstration facility, grid interconnect and planning activities, a much larger 100MW solar power station will be constructed on the same site.
According to Silex 100MW is enough power to run 40,000 average homes.
Should all its plans fall into line, Silex said the construction of the 100MW plant would commence in 2013 with an expected completion date in 2016.
“The Mildura demonstration facility represents a key milestone in the commercialisation of Solar Systems’ unique ‘Dense Array’ CPV technology,” Silex Systems chief executive officer Michael Goldsworthy said in the company’s announcement to the Australian Securities Exchange.
“We are very excited about the commercial potential of this technology, which is expected to provide very low cost electricity from large utility-scale solar power station projects around the world.”
The Mildura solar power station project has received financial support of up to $120 million, subject to milestones being met, from the Victorian State Government with up to $45 million already confirmed.
The Australian Federal Government has also come to the party having also confirmed funding to the tune of $75 million.
The company said it expects several more large scale power station projects to proceed over the next few years in key off-shore markets, including the USA and the Middle East.
It claims to have received strong interest in the technology from these and other markets.