MELBOURNE, Australia, Feb. 4 /PRNewswire-FirstCall/ -- US Solar Tower
power station development edged closer to reality today boosted by progress
announced by Australian Solar Tower developer, EnviroMission Limited.
EnviroMission announced to the Australian Stock Exchange the successful
completion of a pre-feasibility study that now signals the go ahead to move
the project further towards full commercial development.
The study produced in collaboration with Leighton Contractors Pty Ltd
(Australia's leading construction and infrastructure developer) completes a
vital stage in the evolution of the project.
US based Solar Tower developer and licensee of the technology,
SolarMission Technologies, Inc, is a major shareholder in EnviroMission
Limited, an investment that provides identifiable benefits to underpin
SolarMission Technologies' roll out of the technology in the US and beyond.
The economic benefits determined in the study's financial modeling were
adequate to ensure the commerciality of Solar Tower development based on
revenue expected from energy generation, associated derivatives and potential
revenue from naming rights. The study excluded revenues expected from tourism
and agribusiness at this stage.
"The success of the pre-feasibility study signals the go ahead towards
full commerciality and is one of the most significant decisions in the
progress of Solar Tower technology to date and represents a robust examination
of the technical and financial proposition by project partners whose
experience and reputations in infrastructure development second to none," said
EnviroMission's chief executive, Mr Roger Davey in Melbourne today.
EnviroMission and its partners will now undertake a detailed examination
of the financial structuring and development required to deliver Solar Tower
technology to the Australian and global markets.
"EnviroMission has dared to advance a major infrastructure renewable
energy concept to a level of development that should enable commercial reality
as we move to the next stage of this groundbreaking project confident in the
knowledge the Solar Tower can be built and is capable of delivering the
social, environmental and economic benefits necessary for ultimate project
viability," Mr Davey said.
Solar Tower technology is at the forefront of renewable energy
development, offering large-scale, grid connected, electricity generation that
will be capable of powering almost 200,000 households whilst abating more than
700,000 tones of greenhouse gases annually.
SOURCE EnviroMission Limited
 back to top
Related links:
http://www.enviromission.com.au
CONTACT:
Ms. Kim Forte, Communications & Public
Relations Manager for EnviroMission Limited/SolarMission
Technologies Inc, +61-3-9693-5605, or cell, +61-414-690-356,
kforte@enviromission.com.au
|
