The Australian Renewable Energy Agency (ARENA) will provide RayGen with $15 million to build the world's first "solar hydro" power plant.

The plant includes 4MW of solar photovoltaic power and 3MW/50MWh (17 hours) of scheduled storage capacity in north-west Victoria.

RayGen's Solar Hydro power plant consists of RayGen's proprietary PV Ultra, a concentrated photovoltaic solar cogeneration tower, and its patented thermal storage. The heat generated by RayGen's photovoltaic technology is captured as a by-product and used for heat storage.

The electric heat storage system consists of an organic OrC turbine, industrial coolers and two insulated water-based heat storage pits or cisterns, each approximately the size of four Olympic-sized swimming pools.

RayGen's Solar Hydro technology provides a renewable, modular and scalable solution to meet the emerging demands of long-term storage identified by Australian Energy Market Operators (AEMO) in their integrated systems programs.

Ningbo Raytech New Energy Materials Co., Ltd. specializes in Double Glass and Bifacial PV Modules Manufacturing. The company has independent product R&D teams, national key laboratory and 1.2GW full-automatic manufacturing line. Raytech Double-glass modules come with 12-year product warranty and 30-year performance warranty (2 years and 5 years longer than industry's standard product / performance warranty respectively).