Federal Member for Grey Rowan Ramsey said he is extremely disappointed SolarReserve had not met its contract committments to the State Government and the project planned for Port Augusta is unlikely to go ahead at this stage.
“I have been a strong supporter of SolarReserve,” Mr Ramsey said. “It’s ability to store electricity meant it could go some way towards meeting our desperate need for more despatchable electricity, making our grid more stable.”
Mr Ramsey said he had worked hard to get the Federal $110m concessional equity for Solar Reserve to provide a solid platform for them to facilitate the finance to build the project.
“While the State Government is going back to tender for the long-term supply of their electricity the $110m from the Federal government remains in the budget should Solar Reserve secure commercial financing. I have been informed they will be attempting to find a long-term contract for their output and a new investor and I will support them in any way I can.
“Port Augusta should remain optimistic, there is much on offer in the area”, he said. “In the time since of the original SolarReserve announcement we have seen a number of very large renewable projects either built or currently under construction.
”Recently I announced three pumped hydro projects in the area had been short-listed to receive Federal Government consideration for underwriting to facilitate construction, so while the SolarReserve news is disappointing the case and the committment for renewable, despatchable energy in the Port Augusta area continues to increase.”
Media Contact: Leonie Lloyd-Smith 8633 1744 April 5 2019