CLP has also entered into a separate 10-year agreement with Solar Systems, a concentrated photovoltaic solutions provider, to deploy the technology into the Asia Pacific region, including China.
Under the Australian solar power station development agreement, TRUenergy will contribute A$7 million to the development of a 2MW heliostat concentrated photovoltaic pilot plant, subsequently investing up to A$285 million to build the remaining stages of the 154MW project in northern Victoria, Australia.
The Australian and Victorian governments have also committed funds to develop the solar project. Work will begin in 2009. TRUenergy has also picked up a 20% stake in Solar Systems.
Andrew Brandler, CLP’s CEO, said: This represents a major step forward in the ongoing development of our renewable energy portfolio following the release of our climate change strategy last year.
