Sunday, 1 November 2009

CBD Energy Limited Storage Technology Chosen For 100MW Solar Thermal Project In China
Oct 28, 2009

CBD Energy Limited (ASX:CBD) is pleased to announce that it has signed a Binding Heads of Agreement with Baoding Tianwei Group Co. Ltd consisting of:

  • Tianwei will utilise CBD's energy storage technology in a 100MW solar thermal plant to be constructed by Tianwei at Liang Shan, China. This project will be fully funded by Tianwei and is expected to cost approximately US$500,000,000. The project, covering an area of over 4 square kilometres will be one of the largest solar thermal projects under construction in the world. Construction is scheduled to commence early in the New Year. Over the next two weeks, CBD and Tianwei technical staff will be working together to specify the amount of storage required for this project.
  • Upon the successful completion of this first project, Tianwei and CBD will work together on other like projects in the PRC (Peoples Republic of China).
  • CBD will subcontract to Tianwei the construction of its storage technology. By utilising Tianwei's expertise, construction capability and purchasing power, CBD believes it will more than halve CBD's current cost of production.
  • Tianwei and CBD will work together on establishing a Centre of Excellence to make technical and construction improvements to CBD's patented storage technologies.

The CBD technology was chosen for its innovation, simplicity and cost effectiveness. Further details of the revenue impact of this project on CBD will be released once sizing of the storage component has been completed by Tianwei and CBD.