China Three Gorges Signs Deal to Employ Solar Power Technology of RayGen Resources
Published By : 22 Jun 2015 |Published By : QYRESEARCH
China Three Gorges, the renewable energy giant has signed a deal with a technology start-up firm RayGen Resources to penetrate further into the rapidly expanding solar power market in China. RayGen Technology employs two types of solar power technology and China Three Gorges aims to capitalize on this opportunity to deploy the technologies at a pilot plant in China. According to Zu Liu, the deputy director of China Three Gorges’ solar energy division, the 100-megawatt plant will utilize RayGen’s technology that could be cost-effective and would result to 10-20% lesser cost than a regular solar PV plant of the same capacity. She further added that RayGen’s technology has the potential to bring down the investment of solar power plants and hence, China Three Gorges has started with some pilot projects to test the viability of the technology for commercial use.
RayGen’s technology uses gallium arsenide instead of the conventional silicon. Though gallium arsenide is expensive than silicon, it displays higher efficiency, is required in small amounts, and is cost-effective. China Three Gorges is a state-owned company and is aiming to generate 20 gigawatts of solar power in the next five years. According to Bob Cart, the CEO of RayGen Resources, cheaper costs and effective solutions for long term demands of China Three Gorges has helped them to win the deal. To start with, RayGen would demonstrate to China Three Gorges the technology employed at a 200-kilowatt plant in Central Victoria. This would be followed by building a one-megawatt plant in Hebei province of Beijing, which would be later expanded to 30 megawatts after six months of successful operation. Hebei, being the centre of China’s steel industry, has initiated efforts to clean up the environment ahead of the bid for the Winter Olympic Games to be held in 2022. RayGen along with its Chinese partner Juye will earn around one-third of the total revenue from power generated.