Vast gets planning consent for solar methanol project in S Australia

Australian concentrated solar thermal power (CSP) specialist Vast Renewables Ltd (NASDAQ:VSTE) on Thursday said it has secured planning consent for the Solar Methanol 1 (SM1) project in Port Augusta, South Australia.

The SM1 demonstration plant will be able to produce 7,500 tonnes per year of green methanol. It will involve a plant from Australian technology company Calix Ltd (ASX:CXL) to capture carbon dioxide from cement and lime production, an electrolysis plant and a methanol plant. The project will be powered by a co-located 30 MW/288 MWh CSP plant, which will use Vast’s technology.

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Vast is developing SM1 in partnership with German energy company Mabanaft GmbH Co KG with funding support from the HyGATE collaboration between the Australian and German governments.

The planning consent is a key step as the SM1 project progresses towards final investment decision, says the announcement.

“The combination of technologies can be scaled rapidly, acting as a catalyst for a green fuels industry in Australia and around the world,” commented Vast CEO Craig Wood.