Vast Renewables signs contracts with Afry, FYFE, Primero and Worley for VS1 project – EQ
In Short – Vast Renewables has sealed contracts with Afry, FYFE, Primero, and Worley for its VS1 project, marking a significant step forward in renewable energy development. These partnerships underscore Vast Renewables’ commitment to leveraging expertise from leading firms, ensuring the success and efficiency of the VS1 project in advancing sustainable energy initiatives.
In Details – Vast Renewables has signed contracts with Afry, FYFE, Primero and Worley to complete Front-End Engineering Design (FEED) on its VS1 project. Vast Renewables, which is specializing in concentrated solar thermal power (CSP) systems that generate zero-carbon electricity and industrial process heat, said VS1 is a 30MW / 288 MWh CSP plant to be located in Port Augusta, South Australia. VS1, utilising Vast’s modular tower CSP v3.0 technology, will generate low-cost, dispatchable power with over 8 hours of thermal energy storage. Vast Renewables said the project is anticipated to create dozens of green manufacturing jobs and hundreds of jobs during construction and long-term plant operations roles. Today’s news announcement with Afry, FYFE, Primero and Worley follows Vast’s appointment in May 2023 of Worley and Worley Consulting to complete VS1 basic engineering. FEED is expected to be completed by August ahead of a Final Investment Decision in Q3 2024 and construction starting in late 2024.
Craig Wood, CEO of Vast said, “Afry, FYFE, Primero and Worley will bring the right combination of global and local expertise to VS1, which will utilise our technology to capture and store the sun’s energy during the day before generating heat and dispatchable power during the day or night.” Vast’s CSP v3.0 technology has received significant support from the Australian Government, including the Australian Renewable Energy Agency (ARENA), announcing it has approved up to AUD$65 million in funding to support the construction of VS1. VS1 will be co-located with Solar Methanol 1 (SM1), a world-first green methanol demonstration plant. In February, Vast, along with its consortium partner, announced that they signed funding agreements to receive AUD$19.48 million and EUR13.2 million from a collaboration between the Australian and German governments, respectively. SM1 will use zero-emissions dispatchable electricity and heat from VS1 to produce green methanol for use as a sustainable shipping fuel.
