Australian CSP developer Vast Solar is seeking A$75 million ($53.1 million) of financing for a A$240 million hybrid CSP-PV plant in New South Wales, according to reports.

Vast Solar is planning to build a 50 MW plant consisting of 30 MW of modular CSP tower capacity with 10 hours of molten salt energy storage capacity, and 20 MW of PV capacity.

The company has applied to the federal government’s new Underwriting New Generation Investments (UNGI) program, which aims to support firm electricity supply on a technology-neutral basis.

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Source: Australian Energy Regulator

Vast Solar’s CSP design uses liquid sodium as heat transfer fluid (HTF) and features multiple small towers, allowing scalable arrays.

Vast Solar has already built a 1.1 MWe pilot plant in Jemalong, New South Wales.

The $10.1 million pilot plant consists of five modules and incorporate three hours of storage. The Australian Renewable Energy Agency (ARENA) provided $4.99 million to the project.

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