Victoria secures solar manufacturing deal with China
22 September 2015
The jobs potential of the clean economy has been put on full display with the announcement that Victorian technology company RayGen Resources has struck a manufacturing deal with Chinese company JuYe solar, in a move predicted to create 200 jobs for Victoria and see Australian technology penetrate the Chinese market.
Under the deal, a manufacturing facility will be constructed in Blackburn, in Melbourne’s eastern suburbs, where workers will build receivers for RayGen’s concentrated solar photovoltaic systems. The receivers will be sold to the Chinese market, including to state-owned China Three Gorges New Energy Company, a subsidiary of one of the largest energy companies in the world.
The agreement will see up to 500 megawatts of CSPV plants built in China over the next five years using RayGen’s technology. The company is a world leader in CSPV systems, last year winning the energy and people’s choice prizes at the Australian Technologies Competition. It announced at the end of last year it had achieved the highest-ever rate for the conversation of sunlight into electricity, with a system efficiency of 40.4 per cent.
The Victorian manufacturing line facility is set to see RayGen’s staff numbers balloon from 25 to 225 over the next five years, with jobs in engineering, research and development, high-tech manufacturing and head office roles.
A signing ceremony was held this week in Beijing with premier Daniel Andrews, Chinese government officials, executives from JuYe Solar and the chief executive of China Three Gorges New Energy Company. This followed a Memorandum of Understanding between signed in March 2015.
“Chinese investment in Victorian businesses is helping to create jobs in our state,” Mr Andrews said.
“This deal demonstrates the value of Victoria’s growing trading relationship with China and shows that two-way investment is beneficial to both our state and our largest trading partner.”