Photon sells majority stake in NSW solar project

Solar panel render with sunlight (Photon solar)
Image: Shutterstock

Amsterdam-based Photon Energy as sold its majority (65 per cent) stake in a 160MWp solar project in New South Wales to global renewable energy group Wirsol, according to Renewables Now.

The solar project is located in Maryvale, which sits within the New South Wales Central-West Orana Renewable Energy Zone.

Photon Energy said it would immediately realise a capital gain, with another two milestone payments to be made to the company upon successful completion of the project.

Related article: Photon and RayGen to build world’s largest solar/storage project

“Having Wirsol as a partner in Maryvale confirms the quality of our assets and will allow us to accelerate our growth in renewables within the framework of an efficient and sustainable energy transition,” Photon CTO and country manager Australia Michael Gartner said.

Photon says it plans to focus its attention in Australia on large utility-scale schemes designed to utilise RayGen, a technology that combines PV Ultra solar co-generation and electro-thermal energy storage.

The company is currently developing multiple sites in Australia suitable for RayGen’s solar technology in combination with its energy storage solution.

Based on preliminary designs, Photon Energy will develop a solar generation capacity of 300MW with a grid connection capacity of 150MW. The target storage energy storage capacity is 3.6GWh, equivalent to 24 hours of full load, to the grid, from storage.