RayGen and KMI (Jiangyin) announce strategic alliance
16 April 2020
Jiangsu, China and Melbourne, Australia
Jiangyin Kinematics Manufacturing Co., Ltd (KMI (Jiangyin)) and RayGen Resources Pty Ltd (RayGen) have recently formalised a strategic alliance that will include the supply of world-leading, reliable slew drives for RayGen’s Solar Power Plant (‘solar hydro’) technology.
The first project under this alliance will be a fully dispatchable renewable energy facility delivering 4MW of solar generation and 3MW/50MWh (17 hours) of storage. RayGen is partnering with major Australian power utility AGL on the feasibility stage of the project. RayGen recently secured $3 million AUD funding from the Australian Renewable Energy Agency (ARENA) to advance the project to financial close in 2020. The project will be located in Carwarp, Australia.
KMI (Jiangyin) MD Ray Lin said: “KMI (Jiangyin) has known and worked with RayGen for 10 years and believe they are world leaders in the field. We stand ready to provide technical support and our high-performance components into the future as they pursue exponential growth to satisfy world markets with their innovative, low cost and clean power systems.
“Our strategic alliance allows us to supply of highly accurate and highly reliable slew drives for large scale deployment of RayGen’s PV Ultra systems. We believe that this technology can be competitive with coal power, matching the reliability and cost at large scale.”
RayGen CEO Richard Payne said: “We are excited to announce our strategic alliance with KMI (Jiangyin) who have world-leading capability in slew drive technology.
“With KMI (Jiangyin)’s highly accurate and highly reliable slew drives, RayGen is capable of large scale deployment of our PV Ultra and solar hydro systems.”
ABOUT RAYGEN RESOURCES
RayGen Resources is an Australian technology company with world-leading capability in the next generation of solar power and electricity storage. RayGen’s “Solar Power Plant” consists of RayGen’s proprietary PV Ultra (solar co-generation) and Thermal Hydro (electro-thermal storage) technologies. These technologies are designed in Melbourne and are protected by six patent families. RayGen has an experienced team of 30 staff in Melbourne and Bendigo, working across engineering, manufacturing, operations and commercial functions. In 2015, its first PV Ultra project started supplying power to farms near Bendigo in Victoria and has now been operating with high performance for five years. RayGen has built and sold 1MWAC (3MWco-generation) PV Ultra projects supported by power purchase agreements. RayGen develops and manufactures its high-efficiency solar modules at its 25MWAC manufacturing facility in Melbourne. For more information, please visit www.raygen.com.
ABOUT Jiangyin Kinematics Manufacturing
Jiangyin Kinematics Manufacturing Co., Ltd is a wholly owned subsidiary of Kinematics Manufacturing Inc (US), a global leader of innovative slew drives. KMI’s innovations – specifically highly available and reliable integrated slew drives – are widely used in industrial and mobile applications, and play an important role in fuelling the exponential growth of utility-scale solar installations around the world.
P: +61 3 8669 0380