Premier Daniel Andrews has welcomed a new agreement between Victorian technology company RayGen Resources Pty Ltd and Chinese partner company JuYe Solar that will create 200 jobs for Victoria.
The signing ceremony held in Beijing was attended by Mr Andrews, senior officials of the Chinese Government, senior executives from JuYe Solar and the CEO of China Three Gorges New Energy Company.
The funding will go towards construction of a manufacturing facility in Blackburn, which will build receivers for concentrated solar photovoltaic (CSPV) systems.
The receivers will then be sold to the Chinese market to customers including China Three Gorges New Energy Company.
China Three Gorges New Energy Company is a subsidiary of China Three Gorges Corporation, a state owned enterprise and one of the world’s largest energy companies.
A Memorandum of Understanding between RayGen, JuYe Solar and China Three Gorges was signed in March 2015.
The agreement will see up to 500 megawatts of concentrated solar photovoltaic power plants built in China over the next five years, using RayGen’s innovative technology.
The high volume repeatable manufacturing line facility for RayGen in Victoria is expected to take its workforce from 25 to 225 over the next five years, with jobs in engineering, research and development, high-tech manufacturing and head office roles.
Quotes attributable to Premier of Victoria, Daniel Andrews
"Chinese investment in Victorian businesses is helping to create jobs in our state."
"This landmark agreement brings 200 new jobs to Victoria in engineering, research and development, and high-tech manufacturing."
"This deal demonstrates the value of Victoria’s growing trading relationship with China and shows that two-way investment is beneficial to both our state and our largest trading partner."
Reviewed 19 August 2020