Leighton Contractors’ interest in the “Solar Mission” green energy project means construction could begin on the one kilometre high solar tower as early as first quarter 2003.
Under a two year Heads of Agreement signed between Leighton Contractors, developer Enviromission and technology provider Energen, Leighton will begin assessing the development viability of the tower.
‘We are very pleased to be working with Leighton Contractors and taking this important next step to developing Solar Tower electricity projects in Australia,” Enviromission’s chief executive, Roger Davey said.
Leighton’s interest in the project proves that the tower can be built and gives the project credibility, according to Davey.
“We are now a long way ahead.”
As the exclusive design and construct contractor, Leighton will undertake a feasibility study and other due diligence activities over the next six months for the first solar tower, likely to be located at Buronga in NSW, with a potential value of about $1 billion.
Enviromission plans to develop a further four solar towers in Australia by 2010, to which Leighton would also hold exclusive build rights.
It makes sense that Leighton would build these other towers too considering the intellectual property and expertise involved in a project of this kind, Davey said.
The NSW government recently listed the project as “state significant”, while the Federal government’s accordance of Major Project Facilitation (MPF) status to the venture in August, means it will receive Commonwealth government support including help through any necessary approval processes.
Enviromission is now going through all the studies of bankability and locking down the project’s income stream, Davey said.