Silex abandons Mildura solar thermal plant

ASX-listed Silex Systems has announced it intends to suspend its planned 100 MW solar thermal plant near Mildura, with "low wholesale electricity prices and uncertainty around the Renewable Energy Target" among "a number of factors".

In a release to the stock exchange, the company said a review of its funding by subsidiary Solar Systems and the Australian Renewable Energy Agency led to the decision.

The decision means the company has forfeited up to $75 million in conditional support from ARENA, and $35 million from the Victorian Government via its Energy Technology Innovation Strategy Fund.

Silex chief executive Michael Goldsworthy said the company would consider a smaller project at the site.

The project was planned to follow the company's 1.5 MW solar demonstration facility, which opened last year and features the firm's ‘Dense Array’ concentrated PV dish technology.

Mr Goldsworthy said the demonstration facility had "captured a great deal of useful data" that could be used for "alternative opportunities".

ARENA chief executive Ivor Frischknect said the agency remained open to any new or revised Silex projects "ready for demonstration or testing".

Originally published as Silex abandons Mildura solar thermal plant