Vast Energy has obtained $30 million from its $65 million ARENA grant to accelerate green technology manufacturing and the deployment of its next-generation concentrated…The Australian government has pledged its support for the use of concentrated solar thermal (CSP) technology to decarbonise the grid and promote the production of green fuels. This move comes as Vast Energy, a leading provider of CSP solutions, has received $30 million from its $65 million ARENA grant to accelerate the development and deployment of its next-generation CSP technology.
According to Colin Sandell-Hay, CEO of Vast Energy, CSP is an ideal technology for Australia’s energy transition. With its ability to store energy and produce power even when the sun is not shining, CSP can play a crucial role in reducing carbon emissions and promoting the use of renewable energy sources.
The $30 million funding from the government will not only support the manufacturing of green technology but also help in the deployment of CSP solutions across the country. This will not only contribute to the decarbonisation of the grid but also promote the production of green fuels, further reducing our reliance on fossil fuels.
In other news, Strike Energy has secured a $60 million backing from Macquarie to push its gas exploration efforts in Western Australia. This investment will help in the development of new gas reserves, which will contribute to the country’s energy security and reduce our dependence on imported gas.
Meanwhile, Singapore Power has put a pause on its multibillion-dollar stake sale in Jemena, leaving the future of the deal uncertain. This decision comes amidst the changing energy landscape and the need for companies to reassess their strategies in light of the global shift towards renewable energy sources.
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