Solar thermal investors developing the 40MW SolarOasis concentrating solar power project near the coastal town of Whyalla have signed a deal with the Federal Government to access $60 million in funding.
Funding for the project through the Renewable Energy Development program was announcing in 2010 but technicalities have taken time to resolve before the funds were able to be drawn down.
SolarOasis is a $230 million project which will consist of 300 Wizard Power Big Dish concentrators, which are expected generate 66GWh a year. The dish focuses sunlight to generate temperatures of more than 1500oC.
The consortium expects to start building the plant next year for completion in 2015, with much of the funding expected to come from China.