News and Announcements
RayGen Receives $1m Grant from Victorian State Government
- Published June 27, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
The Victorian state government in Australia is providing AUD 1 million in funding for a 0.5-MW commercial concentrated solar photovoltaic (CSPV) plant of Australian solar technology company RayGen Resources Pty Ltd.
KEY TAKEAWAYS:
- The government said on Tuesday the project, to be located in Newbridge, will support local jobs and the development of Victoria’s exports of renewable energy technology.
- RayGen says its PV Ultra module is over 1,000 times more powerful and twice as efficient as conventional photovoltaic (PV) panels.
- The module uses multi-junction Gallium-Arsenide technology that is typical for space applications.
The funding comes from the New Energy Jobs Fund, which offers grants of up to AUD 1 million. Round two of the fund awarded almost AUD 7 million in grants to 21 projects.
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