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Photon Energy Sells Yadnarie Solar-Storage Project to AGL Energy Ltd.

Storage

Business Honor
10 July, 2025

Photon Energy sells its Yadnarie solar-storage project to AGL, marking advancements in reliable, long-duration renewable energy systems.

Photon Energy NV, a clean energy provider, has made an agreement to sell its Yadnarie solar and storage project in South Australia to AGL Energy Ltd. after obtaining approval from the government for the project. This deal reflects an important turning point in the development of modern solar-storage technology developed by RayGen Resources, a Melbourne-based business.

The Yadnarie project, that is scheduled for Cleve on the Eyre Peninsula of South Australia, will bring together 150 MW of focused solar energy with 90 MW of heat production and over 720 MWh of long-duration electro-thermal storage. It will be the first major business deployment of RayGen's PV Ultra and Thermal Hydro technology, which unites aquatic thermal storage with concentrated photovoltaic solar power to offer reliable, accessible renewable energy.

This system, consisting of 50 MWh of storage and 4 MW of solar power, has been tested by RayGen at a small plant near Carwarp, Victoria. AGL now has a contract for energy from the test project. RayGen, which recently collected AUD 127 million in Series D funding to advance its technology, was an early investor in AGL and Photon Energy.

As Australia phases out coal and develops renewable capacity, Yadnarie will help to carry out the increasing demand for long-duration storage, according to Travis Hughes, General Manager of Power Capacity at AGL. By 2035, AGL’s goal is to have 12 GW of new firming and renewable capacity online.

CEO of Photon Energy, Georg Hotar, stated that the sale supports the company's goal of making money and developing modern renewable energy assets. "This research highlights how the combined solar and storage systems can possibly grow in the future. Rising faith in RayGen's technology is apparent in its move to AGL," said Hotar. Yadnarie and other advancements mark an important development toward a time when entire systems can be reliably powered by renewable energy sources.