SILEX Systems has suspended plans for its 100MW Mildura Power Station Project, after a joint review.
By common agreement, the Australian Renewable Energy Agency (ARENA) will also terminate $75 million in conditional support for the concentrated photovoltaic power plant.
Silex says it made the decision based on a number of factors, including low wholesale electricity prices and the uncertainty surrounding the Renewable Energy Target.
Due to these circumstances, the $35 million in conditional funding from the Victorian Government under the Energy Technology Innovation Strategy Fund will also be terminated.
Silex subsidiary Solar Systems says it is currently exploring alternatives to further develop the Mildura site on a smaller scale. It is also in discussions with ARENA and the Victorian Government regarding potential funding support for its concentrated photovoltaic (CPV) ‘Dense Array’ dish technology and other possible Australian-based projects.