Silex Systems Ltd : Solar Systems receives $10 million Victorian Government grant for Mildura Solar Plant
10/03/2012| 10:53pm US/Eastern
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Pioneering Concentrated Solar
Solar Systems receives $10 million Victorian Government grant
for
Mildura Solar Plant
4 October 2012, Melbourne
Solar Systems Pty Ltd, a wholly owned subsidiary of Silex
Systems Ltd (ASX:SLX), announced it has today received a $10
million grant from the Victorian State Government for Stage
Two of its Large-Scale Solar Power Generation Demonstration
Project.
The Hon. Michael O'Brien, Minister for Energy and Resources,
visited the Solar Systems' Concentrating Photovoltaic (CPV)
Power Station in Bridgewater, central Victoria, to inspect
the facility and officially sign the grant deed for Stage
Two.
Stage One of the project was completed in June 2012 with the
opening of a 600 kilowatt capacity solar generating plant at
Bridgewater. Stage Two will result in 2 megawatts (MW) of
demonstration capacity, with an additional 1.5 MW facility
being built at Mildura. This will lay the foundation for
Stage Three, a 100 MW CPV Solar Power Station in Mildura.
Silex CEO Dr Michael Goldsworthy said, "Our vision is to
establish Solar Systems' technology as the world's leading
utility scale solar power generating system, and the grant
provided by the Victorian State Government today advances our
unique and innovative technology to the next scale of
deployment. The commercial prospects for Solar Systems are
very exciting, and we continue to see strong domestic and
overseas interest from companies seeking to develop large
scale solar power station projects."
Solar Systems also expect to build additional large-scale
solar power stations in key offshore markets, including the
USA and the Middle East. A demonstration facility is
currently under construction in Saudi Arabia.
Solar Systems' technology is suited to large utility-scale
electrical power generation using the proprietary 'Dense
Array' CPV solar conversion system. The technology is being
prepared for commercial deployment in the burgeoning global
utility-scale solar power station market which is forecast to
grow rapidly over the next decade. The unique advantages of
this technology include the use of advanced 'triple junction'
solar cells currently capable of operating at over 40%
conversion efficiency - approximately double the efficiency
of today's best silicon-based cells, and the use of active
cooling to maximize
power output and lifetime performance from the solar cells.
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Further Information
Solar Systems:
www.solarsystems.com.au
. Silex Systems
Limited: www.silex.com.au
Contacts: Michael Goldsworthy or Julie Ducie on + 61 2 9532
1331
Media: Alan Jury or Suk Hee Lee (FTI Consulting) on +61 2
8298 6100
Forward Looking Statements and Business Risks:
Silex Systems is a research and development Company whose
assets are its proprietary rights in various technologies,
including, but not limited to, the SILEX technology, Solar
Systems technology, Translucent technology and ChronoLogic
technology. Several of the Company's technologies are in the
development stage and have not been commercially deployed,
and therefore are high-risk. Accordingly, the statements in
this announcement regarding the future of the Company's
technologies and commercial prospects are forward looking and
actual results could be materially different from those
expressed or implied by such forward looking statements as a
result of various risk factors.
Some risk factors that could affect future results and
commercial prospects include, but are not limited to: results
from the SILEX uranium enrichment development program and the
stable isotopes program; the demand for enriched materials
including uranium, silicon, oxygen, carbon and others; the
business risks associated with the development of Solar
Systems technology, its manufacturing and related marketing
activities; the outcomes of the Company's interests in the
development of various semiconductor, photonics and
alternative energy technologies; the time taken to develop
various technologies; the development of competing
technologies; the potential for third party claims against
the Company's ownership of Intellectual Property associated
with its numerous technologies; the potential impact of
government regulations or policies; and the
outcomes of various commercialisation strategies undertaken
by the Company.
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