Melbourne-based RayGen Resources has signed a investment and distribution deal to supply its concentrated solar PV technology to China’s ZhuoZhou Intense Solar.
According to The Australian, the $60 million deal has a goal of securing global exports exceeding $1 billion by the end of the decade.
RayGen’s Concentrated Solar PV (CSPV) technology consists of heliostats (mirrors) that focus sunlight concentrated 750 times onto special solar cell arrays. Each tower mounted one square metre array consisting of triple junction GalnP/GaAs/Ge cells and has a 200kW generation capacity. The solar cells used in each array are supplied by Boeing Spectrolab.
This system can be combined with RayGen’s patent pending compressed air energy storage and thermal storage system.
RayGen says its solution consists of prefabricated equipment with no field wiring that is economical to build and easy to relocate.
ZhuoZhou Intense Solar will purchase Raygen’s semiconductor and computerised control components for further assembly in China and will have exclusive distribution rights in that country.
RayGen has previously received government support from the Australian Renewable Energy Agency (ARENA – $1.75M) and a $1M grant from the Victorian Government’s Energy Technology Innovation strategy; showing once again that government support of home-grown solar technology pays dividends.
RayGen was also a finalist in last years Australian Technologies Competition, which seeks to mentor and develop the best local SME (Small and Medium Enterprise) technology companies. It was this competition that provided Raygen with the opportunity to travel to China to promote its technology.
RayGen’s leadership consists of Bob Bart, who founded Green Volts; John Lasich, a pioneer in concentrating solar power; Sean Lucy, who previously led alternative and solar finance for National Australia Bank and David Sutton, a founding partner of Proteus EPCM Engineers in Perth, Western Australia.
