The Solar Power Plant Phase 1 project aims to develop and commercialise a utility-scale solar and storage technology in Australia.
The Solar Power Plant Phase 1 project acknowledges that there is growing recognition that dispatchable generation is required to replace retiring coal and gas fired power stations.
The energy market is undergoing transition with the rapid growth of intermittent renewables (such as wind and solar). While this is facilitating the shift to low-emissions electricity generation, the current system is restricted by limited renewable generation capacity. While some electricity storage solutions exist, they are largely cost-prohibitive or limited by site constraints.
There is a need for reliable, low-cost and long duration energy storage. RayGen has developed a 100 per cent renewable power plant that can deliver renewable, affordable, dispatchable power and that can be flexibly located.
Developed by RayGen (in collaboration with a large Australian energy company), the RayGen Power Plant – Phase 1 project will develop a utility-scale solar and storage technology. The development will span commercial and technical assessment to financial close. The technology represents a ground-breaking dispatchable electricity innovation.
The energy company aims to assess the commercial value of the RayGen Power Plant and share knowledge of best practice integration into the National Electricity Market. In parallel, engineering consultancy, GHD will assess the cost and performance of the technology.
Following completion of this project, RayGen intends to proceed with Phase 2, which will involve construction and commissioning of the RayGen Power Plant in Australia.
This project aims to create a project ready RayGen Power Plant for construction and commercialisation. The Australian-developed technology will help to resolve electricity generation and storage issues in the National Electricity Market, including:
- provide a low-cost, long-duration storage option for consumers: the technology is resilient to the duck-curve effect and can store electricity for up to 17 hours (50 MWh storage)
- reduce congestion in the grid: The RayGen Power Plant has a flexible operating philosophy that can draw power from the grid to smooth electricity loads during peak intermittent generation hours
- use storage medium with low toxicity (water), minimising waste issues.
This project is expected to create additional benefits such as:
- creation of world-leading technology in Australia that supports advances in Australia’s manufacturing and export capability
- improving industry engagement in addressing the capabilities of new renewable energy technologies
- facilitating transition from Australian research and development technology to real-world applications and commercialisation.