Vast Solar And 1414 Degrees Partner To Advance 20MW Solar Thermal Project in Australia

Australian solar thermal power producer Vast Solar announced on the 15th that it will jointly develop the Aurora Energy Project (Aurora) in Australia by acquiring a 50% stake in Silicon Aurora Pty Ltd (Silicon Aurora) from 1414 Degrees (14D) for A$2.5 million.

This follows the Australian Government's announcement of up to $110 million in concessionary financing for Vast Solar to support the development of a 20MW CSP project in the region. This agreement with 14D marks the addition of another project planned by Vast Solar in the region.

In addition to developing a 140MW (1-2 hour) Battery Energy Storage System (BESS) with 14D, the agreement provides an opportunity for Vast Solar to advance its 20MW CSP project at the Aurora project site. creating hundreds of direct and indirect jobs.

Rapid investment in dispatchable renewable energy is an urgent priority and the only sustainable solution to Australia's mid-term energy crisis.

The world-leading CSP project will produce dispatchable renewable electricity "on demand for 8 hours or more" - a goal of the Australian Government's Technology Investment Roadmap.

CSP plant technology is already being deployed on a large scale internationally, with the International Energy Agency predicting that the global installed capacity of CSP plants will increase tenfold to 73GW by 2030.