Energy Minister Frydenberg stalling on decision about $110m Port Augusta solar thermal funds?
Frydenberg calls for advice on $110m Port Augusta solar thermal funds, REneweconomy
In a statement late Thursday, Frydenberg said he had written to SolarReserve asking for details about the proposal to spend $650 million building a 150MW solar tower plant with molten salt storage near the shuttered coal plants outside of Port Augusta.
“Solar thermal plants operate in a similar way to traditional fossil fuel power plants with steam spinning a conventional turbine, which means they can contribute to network stability and reliability when coupled with built-in storage,” Frydenberg noted.
A contract signed between SolarReserve and the South Australian government promises a price cap of $78/MWh for all the state government’s electricity needs, but the price is dependent on SolarReserve accessing the cheap equity on offer from the federal government.
That offer – made by both mainstream parties in the lead up to the last election – was reinforced in the federal budget by the Turnbull government as part of a tax policy deal with Senator Nick Xenophon.
However, the funds had yet to be allocated to any project. ARENA was tasked with seeking expressions of interest on the solar thermal funding for Port Augusta, but did not call for detailed proposals…..
“ARENA and the CEFC have a strong track record in supporting the commercialisation of emerging technologies and will use that expertise to take solar thermal to the next level in Australia,” he said in a statement.
The IPFA advises the Federal government on funding and financing solutions for nationally significant infrastructure across all sectors, including energy. http://reneweconomy.com.au/frydenberg-calls-for-advice-on-110m-port-augusta-solar-thermal-funds-54190/
No comments yet.
1 This month
of the week – Disrupting War & Militarism in Oceania. Active solidarity. Radical practice.
Antinuclear 
Leave a comment