Solar Systems Pty Ltd.
Concentrated Photovoltaics (CPV) Pty Ltd, a wholly owned subsidiary of the Australian-owned Silex Systems Ltd, took ownership of the assets and operations of Solar Systems in March 2010. To minimise confusion and recognising the goodwill the original company had built within industry and the community, the name of CPV was changed to Solar Systems Pty Ltd after the name was acquired from the liquidator.
Through the purchase, Solar Systems now own the Bridgewater solar research and development and test facility, patented Intellectual Property, a development site near Mildura and the Abbotsford manufacturing facility. Operations to complete the development of the Solar Systems technology are now continuing as follows:
- Stage 1: pre-commercial development work at the Abbotsford facility to finalise a product ready for deployment – expected to be complete October 2011
- Stage 2: Deployment of a 2MW plant at either the Bridgewater and/or Mildura sites – expected to be complete mid 2013
- Stage 3: Deployment and operation of a 100MW plant in Mildura – operating by 2015
The first of the new milestones have been achieved and the project is progressing well. In 2010 the Victorian Government brought forward a payment of $3.5 million from a total $50 million commitment, to allow the immediate continuation of research and development into this world-first solar technology. The original Solar Systems had already received $375,000 from the Victorian Government for completion of agreed milestones. The Commonwealth Government contribution to the project will also continue after funding from the Asia Pacific Partnership and the Low Emissions Technology Demonstration Fund was novated to the new owners.
The locally developed technologies use ultra-powerful solar receivers to uniquely concentrate the sun’s rays, enabling the production of about 1,500 times more power than typical rooftop solar panels.
