An agreement between Victorian solar company RayGen Resources Pty Ltd and China’s JuYe Solar will provide 200 employment in Victoria.
As part of the deal, financial support will be issued for the building of a fabrication facility in Blackburn, which will generate RayGen receivers for concentrated solar photovoltaic (CSPV) systems to be sold to consumers in China.
One of those customers is China Three Gorges New Energy Company, which is among the world’s largest energy companies.
Beginning of this year, a ‘Memorandum of Understanding’ between RayGen, JuYe Solar and China Three Gorges was affirmed regarding the provision of receivers for not more than 500MW of concentrated solar photovoltaic power stations in China.It is anticipated the manufacturing line station for RayGen in Victoria will enhance its workforce from 25 to 225 over the next 5-years.
Victorian Premier Daniel Andrews welcomed the new agreement.
“This deal demonstrates the value of Victoria’s growing trading relationship with China and shows that two-way investment is beneficial to both our state and our largest trading partner.”
“Because of the power of concentration, RayGen uses 50% less collector area, 99.9% less converter area and 95% less manufacturing capex than PV,” says the company. “The end result is clean, reliable and high quality electricity at low cost.”