Vast Renewables Executes Engineering Contracts With Afry, FYFE, Primero And Worley To Complete Front-End Engineering Design On VS1 Project; Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Vast Renewables has signed engineering contracts with Afry, FYFE, Primero, and Worley for the front-end engineering design of the VS1 project, a 30MW / 288 MWh CSP plant in Port Augusta, South Australia. The project, leveraging Vast's modular tower CSP v3.0 technology, aims to produce clean, low-cost, dispatchable power and includes over 8 hours of thermal energy storage. It is expected to generate numerous green manufacturing jobs, hundreds of construction jobs, and long-term operational roles.
April 15, 2024 | 12:10 pm
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Vast Renewables' partnership for the VS1 project with engineering firms could enhance its market position in renewable energy, signaling growth potential.
The initiation of the VS1 project with notable engineering firms underlines Vast Renewables' commitment to expanding its renewable energy portfolio. This move could attract investor interest due to the growing demand for clean energy solutions and the potential for job creation, which often garners positive public and governmental support. However, the financial terms not being disclosed adds a layer of uncertainty regarding the project's cost and profitability.
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