Tindo Solar awarded $34.5 million through Solar Sunshot Program

Tindo Solar, the nation’s lone producer of solar PV modules, has been awarded $34.5 million in ARENA support under the federal government’s Solar Sunshot Program.

According to a statement from the company on Wednesday, this will assist:

• Increasing production from 20 megawatts to 180 megawatts per year;
• A feasibility study to develop a “Gigafactory” with production up to 1 gigawatts of solar modules a year; and
• Creating an estimated 50 new jobs at the company’s Mawson Lakes site.

A separate release from ARENA explains that the support will allow investment in automation and expanding Tindo’s product range “to include premium N-type solar modules”.

“The Solar Sunshot support means we can lower our prices while maintaining our quality, which quadruples our addressable market and makes Tindo solar panels available to more consumers,” said CEO Richard Petterson. 

“We make premium solar panels which means we have captured a small section of the Australian solar panel market, but the production credit opens a larger market to Tindo.

Part of the Sunshot program support is in Manufacturing Production Credits (MPC), which Tindo said will allow it to “ramp up its production and unlock efficiencies”. The feasibility study is supported by a capital grant.

Flow-on benefits in its supply chain as a result are expected to initially be in aluminium frames and junction boxes, then “other solar PV components made by domestic manufacturers.”

ARENA CEO Darren Miller added that, “Australia needs to install hundreds of millions of solar panels over the coming decades to reach our 2050 emissions goals and deliver on the renewable energy superpower ambition. 

“There is an opportunity to make a portion of these here in Australia and today marks a significant step in that direction.”

Solar Sunshot is worth $1 billion and was announced in last year's March federal budget.

According to ARENA's website, a $500 million Round 1A has closed and offered capital and production-linked funding support. Round 1B is open and has $50 million available for feasibility and engineering studies. Round 2 is currently under design “and is expected to be launched in August.:

Picture: credit Tindo

Further reading

Tindo Solar to provide 52,174 panels for Bowen Water Pipeline project

Tindo Solar builds supply chain with Capral deal

Tindo Solar plans $100m solar PV panel gigafactory

Tindo Solar inaugurates new solar PV factory with new Karra panel