Vast signs 550 MWh USA-based green methanol and sustainable fuels deal

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Sydney-headquartered concentrated solar energy company Vast Renewables has signed a development services agreement with subsidiary of New York-headquartered investment firm Glacier Global Partners, Singapore-headquartered energy transition company GGS Energy.

The companies will pursue a concentrated solar powered (CSP) green methanol and commercial-scale synthetic fuels (e-SAF) project in the Southwest United States called Project Bravo.

The project will see Vast’s CSP v3.0 technology used to generate carbon free heat and electricity to power a co-located refinery to produce green methanol and/or electrically powered e-SAF, with a development target of 550 MWh of CSP generation.

Vast has been undertaking early-stage development activities for the project, including initial design, site selection and feasibility assessments, to create a viable project ready for the next phase of development in collaboration with GGS Energy.

Referencing findings in a recent report by engineering group Fichtner, Vast said CSP can potentially reduce green fuel production costs by up to 40% and methanol produced by clean energy is a versatile hydrogen derivative with the potential to decarbonise shipping and aviation fuels.

The project’s success could unlock the mass production of green fuels from synthetic feedstocks in the USA and catalyse a pipeline of future projects.

Vast Renewables Chief Executive Officer Craig Wood said CSP has the potential to unlock low-cost green fuel production in the USA and it can play a significant role in helping decarbonise shipping and aviation.

“We are delighted to have GGS Energy as a development partner to advance our plans in the USA which is a key market for Vast’s technology,” Wood said.

GGS Energy spokesperson Tommy Soriero said the collaboration marks a significant step toward a sustainable future, harnessing advanced technology to produce low-cost green fuels.

“We are eager to combine our expertise and resources to ensure the success and impact of future innovative projects starting with Project Bravo,” Soriero said.

Project Bravo will build on Vast’s Solar Methanol 1 (SM1), the CSP-powered green methanol reference plant to be located in Australia at the Port Augusta Green Energy Hub, that Vast is co-developing with global energy company Mabanaft.

SM1 will be supplied with base load renewable heat from Vast’s co-located 30 MW / 288 MWh CSP plant, and it will have the capacity to produce 7,500 tonnes of green methanol each year.

CSP systems generate solar power through the use of mirrors that concentrate large areas of sunlight into a receiver, then use the heat to drive a steam turbine and create electricity.

The International Energy Agency (IEA) forecasts deployment of up to a minimum of 430 GW of new CSP capacity globally by 2050 for on-grid applications.

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