Vast said the receiver tower, designed and manufactured at the company’s production facility in Goodna, in Queensland’s southeast, is the final component of its CSP technology to be built and tested at operational scale.
The receiver tower design “will deliver more efficient, lower cost and lower risk dispatchable clean energy on demand, outperforming any solution in the market today,” the company said, adding its “modular and repeatable” design will ensure rapid construction on site and straightforward commissioning.
“The design also reduces energy losses and has limited moving parts to deliver reliable long-term performance,” it said.
Vast said validation of the receiver tower marks the final technical milestone for its CSP solution, which uses multiple receiving towers surrounded by fields of mirrors known as heliostats to concentrate and capture heat from the sun. The high-temperature heat is transferred via liquid sodium and stored in molten salt. The energy can be used as either electricity or heat.
The Sydney-headquartered company said the technology is now set to be deployed at utility-scale at its VS1 project being developed near Port Augusta in South Australia.
The project, which has secured backing from the Australian Renewable Energy Agency, is to comprise a 30 MW concentrated solar thermal power plant with more than eight hours of energy storage capacity. Once operational, the facility will deliver energy into the national grid and help to power a co-located green methanol production facility.
Vast said the progress with the receiver tower is an important step toward financial close for VS1 with a final decision on the investment expected in coming months.
“This innovation in our receiver tower is driving even greater performance from our clean energy solution,” Vast Chief Executive Officer Craig Wood said. “We’re proud of the breakthroughs we’ve achieved, and the immense potential our technology has to play a vital role in the world’s decarbonization efforts.”
The company believes CSP can play an important role in Australia’s energy transition, saying the technology’s long-duration energy storage capability and dispatchable capacity should be a critical complement to intermittent solar PV and wind.
“Our projects aim to spark the growth of a domestic CSP industry while creating export opportunities to deliver Australian green technology to clean energy projects worldwide,” Wood said.
