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$1bn clean energy fund raises hope for SA solar-thermal plant

Wednesday, 23 Mar 2016 06:53:59

Hopes rise for planned solar-thermal power generation for Port Augusta. (ABC News)

Supporters of a proposed solar-thermal electricity plant for Port Augusta in South Australia hope a clean energy commitment from the Federal Government will lead to a go-ahead for the project.

Key points:

  • Solar-thermal plant could become model for future projects
  • Environment Minister hopes to make Port Augusta's plan happen
  • Clean Energy Council remains wary of funding model

Former prime minister Tony Abbott wanted to close down the Clean Energy Finance Corporation and the Australian Renewable Energy Agency, but Prime Minister Malcolm Turnbull has now announced both agencies are to remain and will jointly manage a $1 billion clean energy innovation fund.

A solar-thermal power station could cost $100 million to build but Daniel Spencer of lobby group Repower Port Augusta argues it would have long-term benefits, creating up to 1,000 construction and 50 ongoing jobs.

"[There could be] the opportunity for South Australia to create a manufacturing supply chain to help create more of these plants," he said, also predicting the proposed plant could become a tourism attraction for the region.

Solar-thermal is seen as a way forward for Port Augusta after its coal-fired power station closes soon.

"They're closing it now in less than eight weeks' time," Mr Spencer said.

Federal Environment Minister Greg Hunt said a large-scale solar facility with storage at Port Augusta could attract federal funding for its use of innovative technology.

"We're obviously interested and now we're looking forward to making it happen," he said.

But the chief executive officer of the Clean Energy Council, Kane Thornton, remains sceptical.

"This proposal is really giving with one hand while taking from the other," the CEO of the peak group for the clean energy industry said.

The fund will provide both debt and equity for clean energy ventures, which concerns Mr Thornton.

"This proposal obviously keeps the Clean Energy Finance Corporation and that's a welcome development, but essentially it is removing funding from the Australian Renewable Energy Agency and really, I guess, constraining it in terms of its ability to provide capital grants to the sector into the future," he said.

AustraliaPlus


 

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