10 August, 2017 Renewable Fuel Corp Inc. RWFC, a well-known Renewable Energy company based in Las Vegas Nevada Announces its intention to build a 288/MW Solar Thermal Power Plant in NSW Australia with an investment in RFC Resources Pvt Ltd (RFCR) which is a wholly owned subsidiary of RWFC. RFCR was created to develop Renewable Energy projects in Australia that provide the company long term reoccurring revenue streams. The project cost is estimated to be near US$1 Billion. The company has identified a number of suitable locations for the project, but is still in the review process. It is likely the location will be adjacent the national electrical grid near the north and south transit points between Newcastle and Brisbane Australia.
Mr. VanVliet, CEO of Renewable Fuel Corp, stated that the “Australian Renewable Energy Market is robust and support is at the highest ever from both the Government and Citizens. Australia is reaching a turning point where Demand for power is exceeding the capacity Australia has to produce. It is an opportune time for Australia to step up and lead the way to a cleaner and brighter future using sustainable clean energy solutions. We are very excited to choose Australia for our flag ship Solar project, it is good for the local economy, it is good for the environment, it is good for RWFC’s future”.
The name plate production capacity of this station will be 288 megawatt. The power plant will qualify for large-scale generation certificates (LGCs) and uses Concentrated Solar Power (CSP) technology. Heat from the sun will be collected and stored in molten salt tanks and transferred to a steam plant power station as needed to supply ready available energy to the power grid. The storage is able to supply heat to the steam plant for an estimated 6 to 7 hours at full capacity when the sun is down and when other PV Solar plants are offline. This will allow an estimated production of between 1,200,000 to 1,900,000MWh ( Megawatt hours) annually. RFC intends to create projects totaling 6,000 Mw globally over the next 10 years using the Australian plant as its flagship facility.
This project will create an estimated 1800 jobs in Central NSW Australia over the construction period of approximately 36 months with an additional 60 permanent jobs on site for the life of the project. It is expected to also provide an additional 200 jobs to the local area community in downstream work and subcontracting for maintenance and services.
Although most of the solar equipment and technology will be imported, the majority of the project management and engineering as well as critical plant internal vessels will be manufactured by Ameriget Group located in Coffs Harbour Australia. This is expected to create an estimated 120 jobs during the project construction phase.
The company is reviewing a number of areas it has found suitable to locate this plant. It is also in discussions with a number of top providers of Concentrated Solar Power technologies and will make further announcements as the project development proceeds.
The company intends to break ground by early to mid 2018 and plans to be producing energy by the end of 2020.