Project Update Week ending 20 March 2020

NSW to lead the nation on emissions reduction 14 March The NSW economy will see over $11.6 billion workers and businesses the best opportunity of private investment and 2,400 new jobs to thrive in a low-carbon world.” under Stage 1 of the NSW Government’s plan to reach net zero emissions by 2050. Under the plan, household electricity prices will fall, regional businesses will have access Energy and Environment Minister Matt Kean to new technologies and markets, industry said the plan, the first of its kind in Australia, will be supported to modernise their plant is all about reducing the State’s emissions in and increase productivity and consumers will ways that grow the economy. have more information to help them make financially and environmentally sustainable “Where there are technologies that can choices. reduce both our emissions and costs for households and businesses, we want to roll The plan is financially supported by the them out across the State. Where these landmark $2 billion bilateral agreement technologies are not yet commercial, we want between the Commonwealth and NSW to invest in their development so they will be Government announced in January 2020. available in the decades to come,” Mr Kean said. More information about the Net Zero Plan Stage 1: 2020-2030 “Almost two-thirds of the private investment under the plan will go to regional and rural Source: NSW Government NSW, creating job opportunities and diversifying local economies that are doing it PROJECT NEWS tough after the drought and devastating White Rock 2 bushfire season. Modifications to the referral to construct and operate Stage 2 of the White Rock Wind Farm, “Global markets are rapidly changing in located 20km west of Glen Innes in northern response to climate change, with many of the NSW, were approved by the federal world’s biggest economies and companies Department of the Environment & Energy committed to reach net zero emissions by with conditions relating to the clearance 2050. NSW already leads the nation with its restrictions of Box-Gum Grassy Woodland, economic and investment plans and from and potential Regent Honeyeater, Koala Spot- today, NSW will lead the nation with its Net tailed Quoll habitat. The 202 MW project is Zero Plan. being developed by Goldwind Australia and CECEP Wind Power. “Our actions are firmly grounded in science and economics, not ideology, to give our

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Granville Harbour Wind Farm: Lennox Communications First turbines energised and Industry knowledge, communications expertise commissioned Lennox Communications’ principal Paul 16 March Sullivan has more than 20 years’ experience The wind farm, which is expected to become as a resources & energy industry fully operational in the second quarter of communications practitioner across the 2020, currently has nine turbines installed and spectrum of publications and public relations. will eventually have 31 turbines working to In his career Paul has been responsible for: produce 122 megawatts of electricity – • Researching, writing & editing a wide range enough to power 46,000 homes. The wind of corporate communications, including; ASX farm is a key part of Tasmania’s plan to announcements, news releases, annual & become 100% reliant on renewable energy by other company reports, corporate 2022. promotional material, presentations, websites, video scripts and speeches Project Director, Lyndon Frearson said: "These • Creating & implementing communications first nine turbines are visually astonishing and strategies a clear indication of Tasmania’s determination • Creating, writing and editing new to move to a future where all electricity needs publications and websites from concept to can be reliably met using clean, renewable launch and commercial success power. We went from first energisation to full output within two days. That's a pretty strong Lennox Communications can assist its clients statement about the quality of the work that's with their communications objectives by been completed by the team on site to be creating and agreeing on a clear strategy, and able to get that output and we've been then applying thorough preparation, research, consistently getting the full output of the attention to detail, and follow through to plant since we've been operating.” achieve it.

John Laing Project Asset Manager Tatenda More details available from LinkedIn at Gwekwe said; “It’s great to see the project team https://www.linkedin.com/company/lennox- hitting these milestones in such a challenging comms/ environment. As well as the environmental benefits this wind farm will obviously bring, it Email: [email protected] has provided nearly 200 jobs during the construction phase and will continue to provide PROJECT NEWS 6 permanent jobs once completed. Creating value for all means bringing community benefits Theodore Solar Farm as well as delivering sustainable growth and it’s Juwi Renewable Energy’s proposed 70 MW great to see Granville Harbour Wind Farm doing Theodore Solar Farm in Queensland declared just that.” not a controlled action by the federal Department of the Environment & Energy. Source: John Laing The proposal is based on a project covering an area of up to 220 hectares utilising PV solar panels mounted on single axis trackers with ~14 inverter stations required, although details to be finalised in the design phase. The solar farm will connect to the existing Theodore - Moura 66kV transmission line which borders the site. An area for solar battery storage is designated next to the project’s substation and switchyard.

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Element 25 Secures $2 Million High Purity Manganese Sulphate for lithium ion battery cathodes as well as Electrolytic Facility Manganese Metal for use in certain specialty 17 March steels. A PFS is currently being completed and Element 25 Limited (ASX:E25) (E25 or is expected to further confirm the commercial Company) is pleased to announce that it has potential of the Project. entered into a Controlled Placement Agreement (CPA) with Acuity Capital to The Project straddles the Great Northern provide E25 with up to $2 million of standby Highway and the Goldfields Gas Pipeline equity capital over the coming 23 month providing turnkey logistics and energy period. This standby facility may be used to solutions. The Company is also intending to fund the development of the world class integrate renewable energy into the power Butcherbird High Project and working capital. solution to minimise the carbon intensity of the Project as well as reducing energy costs. A Controlled Placement Agreement cleaner, lower carbon flowsheet and high Under the CPA, E25 retains full control of all penetration renewable energy will place aspects of the placement process: Butcherbird at the forefront of sustainable having sole discretion as to whether or not to metal production. utilise the CPA, the quantum of issued shares, the minimum issue price of shares and the Source: Element 25 timing of each placement tranche (if any). There are no requirements on E25 to utilise the CPA and E25 may terminate the CPA at any time, without cost or penalty. ib vogt first development project sale of their Australian Acuity Capital and the CPA do not place any portfolio restrictions on E25 raising capital through 17 March other methods. If E25 does decide to utilise ib vogt GmbH (ib vogt) is pleased to announce the CPA, E25 is able to set a floor price (at its the sale of the Sebastopol Solar Farm to sole discretion) and the final issue price will Fotowatio Renewable Ventures (FRV). ib vogt, be calculated as the greater of that floor price a successful global Solar PV developer and set by E25 and a 10% discount to a Volume EPC contractor first entered the Australian Weighted Average Price (VWAP) over a period solar market in 2016 when it constructed the of E25's choosing (again at the sole discretion 11.1 MWp Williamsdale project in the ACT. of E25). Since then the company has identified and

progressed to the advanced stages of As collateral for the CPA, E25 has agreed to development over 450 MWp of Solar PV place 4.8M ordinary shares (“New Shares”) projects throughout NSW and VIC. The most from its LR7.1 capacity, at nil consideration to advanced of project of this portfolio is the Acuity Capital (Collateral Shares) but may, at Sebastopol Solar Farm. any time, cancel the CPA and buy back the

Collateral Shares for no consideration (subject The proposed Sebastopol Solar Farm is to shareholder approval). located near Temora in the Riverina region of

NSW and once operational, will supply up to About the Butcherbird High Purity Manganese 90MW (AC) of renewable energy to the grid. Project ib vogt Initially identified the project in 2017 The Butcherbird High Purity Manganese and has fully developed the project to the Deposit is a world class manganese resource final stages of development with the project with current JORC resources in excess of 263 having full planning consent, all land rights Mt of manganese ore. The Company has secured and grid ‘Committed’ status with completed a robust scoping study with respect to developing the deposit to produce

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AEMO for the project to commence into FRV signs new power purchase generator registration. agreement with Throughout the development process ib vogt in New South Wales, Australia has strived to build strong and collaborative 18 March relationships with both Temora Shire Council ▪ FRV has reached an agreement with Snowy and Junee Shire Council and the local Hydro, one of the main community to ensure that the Sebastopol and retailing companies in Australia Solar Farm was suitably developed to address ▪ Sebastopol Solar Farm will produce enough any concerns or adverse impacts. This clean energy to supply more than 40,000 resulted in the project receiving no formal homes and avoid the emission of objections to the Development Application approximately 77,600 tons of CO2 per year, and a very supportive community towards the the equivalent of taking about 27,700 cars off project. the road each year ▪ This project will be FRV’s seventh solar farm The project will connect into a 132kV line in Australia adjacent to the site, which is owned and operated by . Ib vogt also Fotowatio Renewable Ventures (FRV), a enjoyed a great working relationship with leading global developer of renewable utility- Essential Energy throughout the grid scale projects, has announced the signing of a connection process. power purchase agreement (PPA) with Snowy Hydro, one of Australia’s main electricity Carsten Stang, Chief Commercial Officer of ib generation and retailing companies. The vogt stated:” The proposed Sebastopol Solar agreement will permit FRV to deliver solar Farm is a world class solar PV project and power generated from the 90MWac highlights our expertise in successfully Sebastopol Solar Farm in New South Wales, developing solar projects in a challenging Australia. solar market. This is our first development project in our attractive Australian portfolio Located 16km south of Temora and and we look forward to progressing our next approximately 440km south west of Sydney in projects to a similar stage shortly’ New South Wales, the plant will connect to the national grid. Its generation will be ‘We are grateful to the local Council and enough to supply energy to over 40,000 broader community in Temora for the warm Australian households and avoid the emission welcome and support they have shown our of approximately 77,600 tons of CO2 annually, team throughout the development process the equivalent of taking about 27,700 cars off over the past 3 years and wish FRV all the best the road each year. in the next stages of development for the Sebastopol Solar Farm’ Sebastopol Solar Farm’s construction and operation will contribute to the economic Source: ib vogt development of the area, with FRV projecting the creation of up to 150 jobs during the PROJECT NEWS construction phase of the plant, and 2-3 Broadsound Solar Farm operational staff for the entire life of the Hadstone Australia’s proposed 392 MW project. Maintenance contracts for jobs such Broadsound Solar Farm in Clarke Creek as panel cleaning, fence repair, and road Queensland was declared not a controlled grading, etc. will also be required and will action so approval is not required under the likely be met by local contractors or federal government’s EPBC Act. subcontractors. In addition, the project is expected to have a direct benefit on business volumes for local services, materials and

Page 4 (Click on relevant project links to go to online Project Database) contracting such as accommodation, food and through an offtake agreement signed in 2018, other retail businesses in the area. we are confident of the same success with Sebastopol. This is the second PPA signed by FRV with Snowy Hydro following the successful bid for Snowy Hydro has significant capacity to firm the 68.7 MWac Goonumbla Solar Farm as part up and store intermittent renewable energy of the Snowy Hydro Renewable Energy generation. Our flexible portfolio of fast-start Procurement Program in 2018, and which is assets allows us to supply our customers with currently in the final stages of construction. 24/7 renewable energy, lowering prices and increasing energy security.” Mr Broad said. This agreement is a demonstration of FRV’s commitment to renewables in Australia and Source: FRV Australia of its goal to provide comprehensive and accessible renewable energy solutions across the globe. Victoria’s go-it-alone approach

Carlo Frigerio, FRV Managing Director retrograde move for end users Australia said, “After the successful 18 March experience of Goonumbla, we are pleased to Victoria’s decision to step outside the continue working with Snowy Hydro on a National Electricity Market rules and go-it- second project contributing to the ongoing alone on transmission developments is a diversification of the electricity generation retrograde step, the costs of which will be resources in NSW and Australia. This project borne by the State’s energy users, according will be our seventh Australian solar farm and to the Australian Energy Council. will consolidate our leading position in the Australian renewable energy market”. The Australian Energy Council’s Chief Executive Sarah McNamara said that the Fady Jameel, Deputy President & Vice passing of the National Electricity (Victoria) Chairman of Abdul Latif Jameel, FRV’s parent Amendment Act (the Act) overnight allows company, highlights “This announcement the Victorian Energy Minister, without any marks a new milestone for FRV in Australia. transparency or cost-benefit assessment, to The devastating Australian bushfires have commit to major transmission upgrades. started 2020 off with a stark reminder of the reality of global warming, and the urgent need “The National Electricity Rules currently to address climate change. Together with our require a robust assessment of potential partners, FRV and Snowy Hydro, Abdul Latif investments in new transmission Jameel is committed to playing an active role infrastructure. This assessment is run in developing clean energy solutions and independently and at arms length from ultimately contributing to create a more political considerations. Its focus is on the sustainable future for the world”. best interests of customers, who ultimately pick up the tab for grid investments. Snowy Hydro’s CEO, Paul Broad, said the company was constantly on the lookout for “Investments in Victoria will no longer be renewable energy offtake opportunities subject to that test, which means customers across the eastern-states. may pay more. This is because every transmission and network investment will “Through our peaking generation assets we unavoidably affect market investments, so have the capacity to support and ‘firm’ careful and individual assessments carried out significant amounts of intermittent wind and at arms length from politics are critical. solar. Following the timely development of Goonumbla, which Snowy Hydro supported

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“The Act has been rushed through the Coordination of Generation and Transmission Victorian Parliament with no consultation and Investment (COGATI) reforms. The clean minimal scrutiny. It makes no effort to replace energy industry had serious concerns about the regulator’s rigorous investment test with the previous proposal and the process a Victorian equivalent. This can only be a bad expediting its development and outcome for Victorian households and implementation. We thank the AEMC for businesses who may be locked into paying for listening to the clean energy industry’s multi-billion dollar investments with no concerns and we support the revised proposal confidence that it is the right call. for reform to the current access regime to be undertaken as part of the Energy Security “The Act also creates uncertainty for private Board’s (ESB) post-2025 market review investors in generation, who can no longer process. rely on a transparent and independent decision making process for transmission Investment in large-scale renewable energy investment. collapsed by 50 per cent in 2019, so addressing the growing risks and accelerating “A coordinated national planning process has transmission investment will be critical to to date been a key cornerstone of delivering a ensuring investment in new renewable energy truly national grid. and energy storage projects picks up again. The Clean Energy Council has written to “State-based interventions increase instability energy ministers asking them to prioritise the in an already challenging market environment following actions at this week’s COAG Energy with knock-on effects for consumers in other Council meeting: states which are members of the National Accelerate transmission investment Electricity Market.” The underinvestment in transmission is one of the most critical challenges facing Australia’s Source: Australian Energy Council energy system. It is stifling new generation, constraining existing generation and resulting in increased energy security risks and higher COAG Energy Council must power prices. The COAG Energy Council should endorse the ESB’s proposed rule reduce investment risk and change to action the Integrated System Plan deliver new transmission and fast track changes to the Regulatory Investment Test for Transmission to ensure it 18 March remains fit-for-purpose for the changing Following confirmation that Friday’s COAG energy market. Energy Council meeting will proceed via teleconference, the Clean Energy Council has Review access regime as part of the ESB’s today released its briefing paper on the key post-2025 market review issues facing Australia’s energy ministers. The COAG Energy Council should support the

revised proposal for reform to the current The Clean Energy Council urges the COAG access regime to be undertaken as part of the Energy Council to prioritise reforms that will ESB’s market review process. remove the growing risks placed on clean energy investors and take further steps to Support the development of Renewable accelerate investment in much needed Energy Zones electricity transmission and the development The COAG Energy Council should support the of Renewable Energy Zones (REZs). development of REZs by agreeing flexible

design elements and committing to delivering The Clean Energy Council has welcomed a priority REZs across all states. revised approach to the Australian Energy

Market Commission’s (AEMC) proposed

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Review marginal loss factor (MLF) regime The City has already begun its transition to The COAG Energy Council should commission low carbon operations through the a comprehensive review of the current MLF installation of solar panels and energy regime, including an assessment of options efficient systems, electric and hybrid fleet that can address loss factor volatility while vehicles, and increased efficiencies in water avoiding any negative impact on customers. use and waste.

Accelerate reform of stand-alone power In addition to becoming certified carbon systems for bushfire recovery neutral and switching to renewable energy, the The COAG Energy Council should approve the plan outlines other targets including that fleet framework to allow distribution network service vehicles meet the Climate Change Authority’s providers to utilise stand-alone power systems standard by 2025, 20 per cent reduction in for bushfire recovery as a matter of urgency. energy consumption by 2025, and an overall reduction in operational greenhouse gas Review of governance of distributed energy emissions of 45 per cent by 2030. resources (DER) standards Grid connection rules and DER standards “The adoption of this plan is a significant step suffer from a lack of good governance and for the City and clearly demonstrates our coordination. The current system is a commitment to sustainability and delivering bureaucratic maze that places an unnecessary action on climate change, which is important burden of cost and complexity onto to our community,” Mayor Penny Taylor said. Australia’s solar industry. The COAG Energy Council should approve the governance “We want to be a leading Council that seeks review of these standards proceeding to the to actively minimise all carbon emissions – as next steps. we have been doing – and look to appropriate offsets that make a real difference and show Visit the Clean Energy Council website for the leadership at a community level.” full briefing paper outlining all the key issues facing energy minister’s ahead of Friday’s The plan is expected to deliver financial COAG Energy Council meeting. savings through more efficient use of energy across City operations. Source: Clean Energy Council “As well as giving ratepayers better value for money, this plan will help ensure the City is Milestone carbon reduction protected against price increases on utilities and fuel, and prepared for a potential carbon plan adopted price in the future,” Mayor Taylor said. 18 March The City of Subiaco is the first local Source: City of Subiaco government in the state to develop a comprehensive corporate carbon reduction PROJECT NEWS plan, with the goal of becoming certified Woolooga Solar Farm carbon neutral by June 2020 and switching to The federal Department of the Environment & 100 per cent renewable energy by 2025. Energy has ruled that Lightsource BP’s

proposed 130 MW Woolooga Solar Farm near The plan was endorsed by Council last night Lower Wonga in Queensland is a controlled and is expected to reduce the City’s action and so will require assessment and greenhouse gas emissions by 772 tonnes a approval under the EPBC Act before it can year by 2030. proceed. The relevant controlling provisions

are Listed threatened species and communities (sections 18 and 18A).

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Solar plus stimulus delivers World: an updated climate policy toolkit for Australia. This report sets out how Australia renewable energy at 2 cents can further develop its policies to ensure we per kwh! make our contribution to the global task of 18 March reducing emissions, in both the short-term The recent announcement by the federal and long-term, and position Australia to take government to as part of the national advantage of the opportunities of a global stimulus package creates a further windfall for low-emissions economy. businesses looking to purchase solar. Dr Wendy Craik, the Chair of the Climate For a 100kW system, the renewable energy Change Authority said, "Australians are target already provides a ‘green benefit’ of already experiencing the effects of a variable some $55,000 towards your move to cheaper, and changing climate. 2019 was Australia’s renewable energy. With an immediate tax warmest and driest year on record – a key deduction introduced through the stimulus factor driving this summer’s catastrophic package, it is possible to reduce your year 1 bushfire season, which caused widespread cash flow by a further $35,000* for systems loss and devastation to Australian purchased by eligible businesses before 30 communities, wildlife and natural ecosystems. June 2020. At the same time Australians have endured a record severe and prolonged drought. With a total savings of up to 70% through a mix of tax benefits and green benefits, The case for countries to move quickly to reduce businesses can be consuming energy from climate change and adopt measures to build our solar for as little as 2 cents per kWh over the resilience has never been stronger. The good systems 20+ year life. news is the global shift to low emissions presents many opportunities for Australia." Solgen Energy offers businesses a clear pathway to achieving these The report suggests how Australia can prosper outcomes. Contact us to discuss options for in a low-emissions world due to our abundance your business for a straightforward turn-key of clean energy and already strong institutions solution. and capabilities. As global demand for energy increases and countries move to lower The full Australian Government response can emissions, there will be a growing demand for be found here. Australia’s clean energy resources and low emissions products. The report also points to *Estimate only based on company with the potential for emerging technologies and taxable income at 27.5% allowing deduction industries, such as hydrogen, to generate for estimated cost of 100kW system. significant opportunities for Australia; and acknowledges the Government’s forthcoming Source: Solgen Technology Roadmap to stimulate research and investment.

New areas of jobs and growth could open up Climate Change Authority in diverse economic sectors such as releases new report - sustainable agriculture, new green-tech industries, environmental and financial Prospering in a low-emissions services and climate resilient infrastructure. world 18 March In the report, the Authority updates its The Climate Change Authority today released previous policy toolkit on economy-wide its report Prospering in a Low Emissions opportunities to reduce emissions for

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Australia to meet its Paris Agreement NEW PROJECT commitments. The report presents 35 Plans for world-first solar recommendations to help transition Australia to a low emissions future, building on the power plant in western Government’s current climate change policy Victoria settings to drive down emissions in the 19 March transport, industrial, electricity, agriculture On behalf of the Australian Government, the and land, and waste sectors. Australian Renewable Agency (ARENA) has

today announced $3 million in funding to As well, the updated toolkit aims to empower RayGen Resources Pty Ltd (RayGen) to businesses, governments, communities and conduct a technical and commercial feasibility families to take action to reduce their study for a 4 MW “solar hydro” power plant emissions and help them better prepare for to be built in north-western Victoria. the changes in our climate that are already locked in. In a world-first, the Melbourne based

renewable energy startup RayGen is As an open economy Australia needs proposing to build a fully dispatchable continued access to global markets which will renewable energy facility that will use their be transitioning to low emissions goods and innovative concentrated solar PV technology services The Authority emphasises that known as PV Ultra and combine it with their Australia’s future prosperity will be best Thermal Hydro technology to generate served by participating in strong global action renewable energy and provide large scale to reduce emissions and planning for and energy storage. The grid-scale power plant is managing the impacts of the global transition. proposed to be built in Carwarp near Mildura The updated toolkit seeks to provide a clear, capable of providing 4 MW of solar generation long-term signal to businesses, investors and and 17 hours of storage. communities on the global transition to a net zero emissions world and to ensure the The $6 million first phase will get the project transition is well managed so new jobs and to financial close and shovel ready for benefits flow to regions and communities. construction.

"We need to position our economy for the RayGen will be working with AGL and GHD on coming changes in global trade and this initial phase which will include technical investment markets and seize on the and commercial feasibility studies, opportunities before us, or risk being left commercial assessment, a connection behind," Dr Craik said. agreement, offtake agreements, capital

raising and a planning permit for a preferred Established in 2012, the Climate Change site. Authority provides independent expert advice to the Australian Government and Parliament RayGen has developed this innovative on climate change policy. The Authority does application of their existing PV Ultra this by conducting statutory and specifically technology and the new thermal storage commissioned reviews and by undertaking technology. PV Ultra is a tower-mounted, independent research and analysis. concentrated solar PV technology that

combines low-cost solar collection heliostats The report can be found at and high-efficiency solar conversion via PV www.climatechangeauthority.gov.au cells, creating the ability to co-generate

electricity and heat. The heat by-product is Source: Climate Change Authority captured and used to boost the efficiency of

the thermal storage element.

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The thermal storage technology stores energy “RayGen’s flagship 4 MW / 50 MWh plant is as a temperature difference between two expected to offer storage at a fraction of the water reservoirs. The heat generated from the cost of recent battery projects. The project is PV Ultra is used to charge the hot reservoir, in a renewable energy zone that has limited whilst the cold reservoir is cooled using an capacity to support pumped hydro. We will electric chiller supplied with electricity from also be supplying synchronous power to the PV Ultra and the grid. grid where it is critically needed in the West Murray region. The stored temperature difference will power an Organic Rankine Cycle engine to generate “We would like to thank ARENA and our electricity with a round trip efficiency of 70 project partners in AGL and GHD for their per cent. support on this exciting project.”

The size of the storage reservoirs are readily “AGL’s support for this project is consistent scalable and the water will be recycled and with our commitment to providing reused. sustainable, secure and affordable energy for our customers and helping shape a ARENA CEO Darren Miller said: “With sustainable energy future for Australia,” said RayGen’s project we’re seeing homegrown AGL Interim Executive General Manager innovation in solar PV now being used to find Wholesale Markets Dominique Van Den Berg. new solutions for dispatchable renewable energy. RayGen’s solution could complement ARENA previously supported RayGen with a other more traditional forms of storage such total of $8.67 million in funding to develop its as grid-scale batteries and pumped hydro.” PV Ultra technology and build the 1 MW PV Ultra pilot project in Newbridge, Victoria. The “With ARENA’s funding, RayGen is aiming to pilot project has been operational for over progress this project to be shovel ready by the two years powering a local mushroom farm. end of this year and to prove its novel technology can be cost-competitive with RayGen is expected to reach financial close batteries and pumped hydro. and commence construction on the plant this year, with the aim to have the facility “While this solar and thermal storage plant commissioned in 2021. works similarly to a solar farm combined with a pumped hydro facility, the advantage of Source: ARENA RayGen’s approach is that it can be deployed at a smaller scale and at a much lower absolute cost,” he said. RayGen’s dispatchable Solar

RayGen CEO Richard Payne said: “Australia’s Power Plant receives funding energy transition will require storage from ARENA, progresses solutions that can store power cost-effectively for hours, days or weeks and be deployed at towards financial close large scale around the world. 20 March “RayGen has developed an innovative solar- RayGen Resources Pty Ltd (RayGen) has plus-storage product that captures sunlight recently formalised an agreement for $3 with mirrors and stores energy in water. Our million in funding from the Australian technology provides firm renewable power at Renewable Energy Agency (ARENA) to low cost, while conserving natural resources conduct a technical and commercial feasibility and our environment. study for a flagship solar-plus-storage project to be built at Carwarp in north-west Victoria.

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RayGen is proposing to build a fully ● Provides full depth of discharge and zero dispatchable renewable energy facility that degradation of storage medium (water) with will deliver 4MW of solar generation and cycling; and 3MW/50MWh (17 hours) of storage. This ● Enables dual use with agricultural grazing project will provide the National Electricity beneath the solar field. Market with day-night renewable electricity and support grid reliability. The project will RayGen’s technology presents a unique also supply synchronous power where it is opportunity to accelerate the global clean critically needed in the West Murray region. energy transition with a product that captures sunlight with mirrors and stores energy in RayGen has partnered with AGL and GHD to water. RayGen’s proprietary technology conduct commercial and technical supports the Australian advanced assessments of the project and consider the manufacturing sector, with locally produced future applications and cost of this control software and high-performance solar technology. modules.

The funding from ARENA will support RayGen RayGen CEO Richard Payne said: “Australia’s to take the project to financial close and make energy transition will require storage it shovel ready for construction. RayGen is solutions that can store power cost-effectively expecting to reach financial close and for hours, days or weeks and be deployed at commence construction of the project this large scale around the world. year, with the aim to have the facility commissioned in 2021. “RayGen has developed an innovative solar- plus-storage product that captures sunlight The project will be the world-first deployment with mirrors and stores energy in water. Our of a low-cost electricity storage technology in technology provides firm renewable power at Victoria that: low cost, while conserving natural resources ● Delivers low-cost, long duration energy and our environment. storage, already less than half the cost of batteries for 10 hours of storage; “We would like to thank ARENA and our ● Produces near zero e-waste with a solution project partners in AGL and GHD for their mostly mirrors and water; support on this exciting project.” ● Generates power with a synchronous heat engine (Organic Rankine Cycle); Source: RayGen ● Stores electricity with approx. 70% round- trip efficiency;

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