Australian company secures funding for novel solar-hydro storage project

first_img FacebookTwitterLinkedInEmailPrint分享Renew Economy:A Victoria-made “dispatchable” concentrated solar and hydro storage technology is set to be tested at a pilot-scale in the state’s north west, with the backing of the federal government’s Australian Renewable Energy Agency and in partnership with AGL Energy.The company behind the technology, RayGen Resources, said on Thursday it had locked in $3 million in funding from ARENA, to test the technical and commercial feasibility of its concentrated solar and thermal storage technology – or “solar hydro” – that uses mostly mirrors and water to generate power and heat.The flagship project, which is being developed in partnership with major Australian gen-tailer AGL, will deliver 4MW of solar generation and 3MW/50MWh (17 hours) of storage that RayGen says will be able to supply the grid with “day-night renewable electricity” and support grid reliability.The project would also be able to supply synchronous power where it is critically needed in the West Murray region, a notoriously “weak” area of the national grid that has seen the output of five solar farms cut by half and dozens more projects warned of delays to both commissioning and connection approvals.RayGen said the funding from ARENA – its third grant from the federal government Agency in the space four years – would help get the pilot project to financial close and make it shovel ready for construction, with the aim to have it commissioned in 2021.[Sophie Vorrath]More: World first “solar hydro” plant in Victoria gets backing from ARENA, AGL Australian company secures funding for novel solar-hydro storage projectlast_img read more

Dominica’s decision to invest in LIAT an ‘excellent decision’

first_img Share Sharing is caring! Tweet Share LocalNews Dominica’s decision to invest in LIAT an ‘excellent decision’ by: – June 20, 2012center_img 32 Views   no discussions Prime Minister of Saint Vincent and the Grenadines, Dr. Ralph Gonsalves. Photo credit: Caribbean News NowPrime Minister of Saint Vincent and the Grenadines, Dr. Ralph Gonsalves, has described Dominica’s decision to invest $8 million into cash strapped regional airline LIAT as an “excellent decision”.Dominica’s leader, Roosevelt Skerrit, announced in December of 2011 that his government had taken a decision to invest into the airline for various reasons.Chief among them was to avoid subsidizing or paying for empty seats on the airline and the best way towards implementing its tourism strategic plan.At the time of this announcement in 2011, he noted that the arrangement was being finalized and would have taken effect in 2012.However, a recent fire which destroyed two office blocks, an aircraft hangar and an aircraft at the VC Bird International Airport on June 10, which is likely to cost the airline approximately EC$35 million according to LIAT’s manager for corporation communications Desmond Brown, may have accelerated the move.Prime Minister Baldwin Spencer announced at the weekend that Dominica’s leader gave a commitment to provide half of the $8 million equity contribution to LIAT this week.This has caused a stir among the main Opposition party in Dominica, the United Workers Party (UWP). UWP Leader, Eddison James urged Prime Minister Skerrit to disclose whether the “$8 million is an investment for shares in LIAT or whether it is a contribution in the context of loss which LIAT has suffered,” noting that this had not been the “subject” of discussion locally.LIAT”s inagural night landing flight to Dominica. Photo credit: GIS NewsPrime Minister Gonsalves told the Next Level Radio program on Tuesday evening that it is a good decision by Dominica’s leader and he has never had one moment of regret for his decision to invest in the airline years ago.According to him, LIAT provides an essential service in terms of travel for the Caribbean region which is “indispensible”.“It’s an excellent decision…Dominica does not have an international airport; Dominica has now lengthened its airport at Melville Hall and they have night landing, Dominica has increased its hotel rooms… so you have to build your services. If you’re building your services you need more air transport”. He explained further that it is “absolutely” the correct time for Dominica to purchase equity into the airline as LIAT has been engaged in discussion for expansion.“So he wants to sit at the table to make sure that Dominica is properly served by LIAT and he wants to be there in the discussion for the fleet renewal and the fleet expansion”.Gonsalves explained that the decision to invest into the airline should not be viewed as an abandonment of agriculture.“While we still have a role for bananas and a role for agriculture we have to build on the services especially tourism services. Dominica is similar to Saint Vincent in that it is an agricultural country which is moving into the services. So it’s not a question that you are putting the money into LIAT and you’re not putting any money into bananas”. He stated that it is a question of a leader looking at “the whole economy and you have to look at areas where you are growing too like in tourism and services and you have to put money into it”.Meanwhile, Prime Minister Skerrit told the Next Level Radio program on Tuesday evening, while he is aware of the challenges which the airline is faced with, he “remains resolute” in his decision, as it is “to ensure that Dominica’s interest is protected”. Dominica Vibes News Sharelast_img read more