Solar Systems collapses  

Posted by Big Gav in , ,

The Business Spectator has a report on the collapse of solar power company Solar systems, which was touting "the world's largest solar power plant" (a CPV solar tower) in north west Victoria - Solar power company Solar Systems collapses.

Victorian company that was set to develop one of the world's largest solar power plans has been placed in administration, putting the company's $420 million project in doubt. Solar Systems, which is based in Melbourne, was developing what was to be the world's largest solar power plant in the Victorian regional town of Mildura.

The company has attracted serious support, with the State and Federal Governments pledging $125 million of funding for the project. Power company TRUenergy, which is owned by Hong Kong-based energy giant CLP, was also a big supporter of the company and invested $53 million in Solar Systems in 2008. But last week CLP wrote the value of its investment down to zero, blaming its decision on Solar System's inability to attract another big investor.

Across in SA, AGL will be powering the new desalination pkant with wind power - AGL secured SA renewable energy contract.
AGL Energy Ltd has been selected as the renewable energy supplier for South Australia's new 100 gigalitre per annum desalination plant.

AGL says it will satisfy the South Australian Government's requirement that the plant, under construction at Port Stanvac, south of Adelaide, be powered by 100 per cent renewable energy. "We will be providing renewable energy to these projects with a combined wind generation capacity of more than 540MW (megawatts)," AGL managing director Michael Fraser said.

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