Vast Solar Seeks A$75M for Australian Utility-Scale Power Plant

By James Thornhill

(Bloomberg) —

Vast Solar, which utilizes new technology to capture solar energy to be used when the sun isn’t shining, is seeking A$75 million ($53.6 million) to help finance a utility-scale power plant, according to a statement.

  • Co. working with Moelis Australia to secure financing for a 50MW hybrid project and is looking to bring a strategic partner on board
  • 1MW pilot project in New South Wales uses sodium as a heat transfer fluid to capture concentrated solar energy, which can then be stored and used on demand
    • Project is backed by Australian Renewable Energy Agency