South Australia Thrilled with New Low-Cost Solar Thermal and Storage Project

South Australian Premier, Jay Weatherill announced last Monday that SolarReserve won the tender to supply 100% of the government’s long-term power needs through a 150megawatt, $650 million solar tower and storage facility to be built in Port Augusta as reported by Clean Technica.

The project is called “Aurora” and won the 20-year contract to deliver power at $78/megawatt-hour, which is one-half of the previous estimates for the technology.

How did they get such a low cost?

• The 20-year power off take contract SolarReserve has signed with the South Australian government will allow them to very gradually write off the initial cost.
• Second is the $110 million of recoupable expenditures that were promised by the federal government last April.

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