Hydropower, Storage

SOLON Plans to Invest in Australian Renewable Energy Company

Berlin, Germany and Sydney, Australia [RenewableEnergyAccess.com] SOLON AG is planning to make an investment of up to 20% in CBD Energy Ltd., Australia. SOLON’s aim in entering into the strategic partnership is to cooperate with CBD Energy as a turnkey contractor in implementing CO2-free power plant projects in Australia. CBD Energy Ltd., based in Sydney, recently acquired a license for a process for storing energy on a graphite basis. CBD Energy is working on establishing a remote area power system on King Island, Tasmania, in a joint venture with Hydro Tasmania, Australia’s largest energy supplier focusing on renewable energies. The acquisition price for the stake in the company is approximately $3 million.