Silex Systems Ltd has breathed new life into the 100MW Solar Systems Pty Ltd project in Mildura, north-west Victoria.
The Australian Government has agreed to continue to fund $75 million towards the 100MW Large-Scale Solar Concentrator Power Project, with the potential for a further 50MW to be added later.
Silex Systems acquired the assets of the former Solar Systems Generation Ltd when that company went into liquidation in February 2010.
The Minister for Resources and Energy, Martin Ferguson AM MP, congratulated Silex Systems Ltd for taking on this project through its subsidiary Solar Systems Pty Ltd and continuing to support the development of solar power in Australia.
"I am pleased that Silex Systems is continuing to advance this project and the Australian Government will also maintain its support by continuing the original funding commitment," Minister Ferguson said.
"This project has the potential to be one of the most efficient concentrating photovoltaic power stations in the world.
"Innovation on this scale will provide as many as 40,000 homes with electricity.
"The Australian Government is investing billions of dollars in viable, clean and renewable energy technology projects. These projects are a real boost for regional communities like Mildura, providing investment and jobs to the local community.
"The innovation we're supporting right across Australia is part of a portfolio of measures, including the 20 per cent Renewable Energy Target and a price on carbon to transition Australia to a low-carbon economy."
Before constructing the full 100MW plant, Silex Systems Ltd must first demonstrate the successful deployment of a 2MW pilot plant also to be constructed in Mildura.
The $75 million Commonwealth funding is part of the Low Emissions Technology Demonstration Fund. The Victorian Government is also supporting the project with a $50 million grant.
The Australian Government has further assisted the project with a $4.5 million grant under the Asia Pacific Partnership on Clean Development and Climate, of which approximately $1.9 million was transferred to Solar Systems.