BRIEF – 30 March 2010 – Plans for the construction of one of the worlds largest solar plants in Victoria are back on track after technology innovation company Silex Systems took ownership of the solar power plant technologies of Solar Systems.

Silex Systems has acquired a solar pilot plant at Bridgewater near Bendigo, patented intellectual property, a manufacturing facility in Melbourne and a development site near Mildura.

The Victorian Government has brought forward a payment of $3.5 million to Silex Systems to allow the immediate continuation of research and development into the solar heliostat concentrator technology for the plant. It also puts the company in line for $50 million in government funding to continue to build a large scale solar plant near Mildura.

If the company meets project milestones, Federal funding of $75 million under the Lowe Emissions Technology Demonstration Fund and $4.5illion under the Asia Pacific Partnership for a two megawatt pilot project remain available.