Vast Renewables Limited( Vast) has secured up to AUD 180M of conditional funding from the Australian Renewable Energy Agency( ARENA) for construction of its Port Augusta utility-scale clean energy project, Vast Solar 1( VS1). Deploying Vast’ s next generation concentrated solar thermal power( CSP) solution, VS1 is set to be one of Australia’ s first projects to provide urgently needed long duration renewable energy storage and generation. The project capitalises on peak pricing periods after sunset when intermittent renewables like solar PV are not available, delivering reliable, on-demand clean power to South Australia’ s grid. Vast’ s award-winning technology has the potential to play a critical role in powering the global energy transition. The technology is designed to deliver round-the-clock, affordable carbon |
free power and heat that is needed to decarbonise the grid, fuels production for shipping and aviation, specialist industries such as data centres, and hard to abate industries like mining and refining. The Australian Government, through ARENA, has been a major supporter of Vast, alongside strategic investors EDF and Nabors Industries( NBR). The announced funding from ARENA is an important step towards finalising financing for VS1. Capital expenditures to complete construction of VS1 are currently estimated to be in the range of AUD 360M – AUD 390M. Vast has completed front-end engineering design( FEED) and commercial development, and is working to deliver the additional investment in VS1 and Vast( for the construction and commissioning period) necessary to allow a final investment decision and construction to begin in 2025. |
MAIRE( MI: MAIRE) announces that NEXTCHEM( Sustainable Technology Solutions), through its subsidiary NextChem Tech, has been awarded a three-year contract by SATORP – a joint venture between Saudi Aramco and TotalEnergies – to provide engineering and technology services related to the Sulphur Recovery Complex of SATORP’ s refinery in Jubail, Kingdom of Saudi Arabia. Specifically, NextChem Tech will provide process and engineering advisory services to enhance performance, support operational |
troubleshooting, and improve energy efficiency and the carbon footprint of the three units( Sulfur Recovery Unit, Amine Regeneration Unit and Sour Water Stripper) which compose the Sulphur Recovery Complex. The services will also include recommendations for capital investment opportunities, design enhancements, and technology improvements. This award reinforces NEXTCHEM’ s position as reliable technology and process leader, recognized for its expertise and commitment to continuous R & D and innovation. |