As many as 1,000 jobs could be created in South Australia after a deal between Heliostat SA and Global Wind Power Limited (GWPL).
Heliostat SA has signed a memorandum of understanding (MoU) with the Indian company to manufacture and develop solar products.
“The first Memorandum of Understanding includes the development of utility scale solar projects with power generation developer GWPL,” said Chief Executive Officer of Heliostat SA.
“This is the first step in the development of a 1 gigawatt solar projects portfolio in the solar rich regions of India – this amount of solar is enough energy to supply a city the size of Adelaide.”
Attending a trade delegation in India this week, Minister for Investment and Trade Martin Hamilton-Smith said the deal was “an example of how persistent engagement with international markets can lead to significant export outcomes and jobs growth.”
Mr. May acknowledged the state government-led trade missions have opened the doors of two of the biggest companies in India for Heliostat SA.
Another MoU has been signed with Indian company Gravita for the development of industrial concentrated solar power (CSP) thermal applications for metal recycling.
Mr. May stated his company is on schedule to develop 50 megawatt and 100 megawatt projects initially, then the 1 gigawatt portfolio over the next four years; representing approximately $2.5 billion in investment and $1 billion in professional services and product sales. He says India represents half Heliostat SA’s annual forecast turnover.
Heliostat SA has been an example of making lemonades from lemons.
The company was spun out of auto parts manufacturer Precision Components, with the assistance of the Australian Government’s $20 million Automotive Diversification Programme. Heliostat SA employs former auto industry workers and uses machinery previously manufacturing automotive parts.
Heliostat SA partnered with CSIRO to deliver what it says is a best-in-class heliostat mirror system – smaller mirrors and an advanced control system that attain high performance from a more cost-effective design.
“We are leading the global quest towards a cleaner and greener future. We believe this will be driven by socially responsible renewable energy production,” says Mr. May.
Image Source: CSIRO
