Wednesday, October 25, 2006

Note: All dollar figures are in AU$ unless otherwise stated.

Victorian Premier Steve Bracks and federal Treasurer Peter Costello unveiled the project to build world’s largest solar plant on October 25.

The $420 million plant will sit on 900 ha of land and produce 154 megawatts. It will use mirrored panels to concentrate light.

It is expected to reach full capacity in 2013.

The Victorian Government will contribute $50 million to the plant. The Federal government will contribute $75 million out of its $500 million low emissions technology demonstration fund (LETDF).

LETDF is also contibuting $50 million towards a $360 million pilot for a brown coal drying and a post-combustion carbon dioxide capture and storage project at the International Powers’ Hazelwood facility in Gippsland.