US-based solar power technology firm Heliogen has signed a project agreement with Woodside Energy, a subsidiary of Australian energy producer Woodside Petroleum, for trialling a concentrated solar energy project in the US.
Heliogen’s artificial intelligence (AI) enabled concentrated solar energy project is proposed to be developed at a site in Mojave, California.
Woodside has set a target to invest $5bn in new energy products and lower-carbon services by 2030.
To help achieve this, the company has decided to acquire a certain stake in Heliogen.
Heliogen founder and CEO Bill Gross said: “We are thrilled to be working with leading Australian energy producer, Woodside.
“Our agreements represent a pivotal next step in the commercialisation of Heliogen’s breakthrough concentrated solar technology and the decarbonisation of heavy industry.
“We are also pleased to share that, along with these agreements, our strategic alliance with Woodside includes Woodside taking an equity participation in Heliogen.
“The proposed Mojave facility will further advance our discussions with Woodside for additional opportunities aiming to produce carbon-free heat, power and hydrogen to help them achieve their sustainability goals.”
The project agreement comes after Heliogen received a limited notice to proceed from Woodside to begin procuring key equipment to deploy the commercial scale, single-module 5MWe facility.
Under the terms of the latest agreement, Heliogen will be responsible for carrying out engineering, procurement and construction (EPC) works on the facility.
Both Heliogen and Woodside have also agreed to add the scope and associated funding of $39m awarded by the US Department of Energy (DOE) to Heliogen for developing renewable energy technology in California.
In addition, the two companies have signed a collaboration agreement to jointly market Heliogen’s technology in Australia.
Woodside CEO Meg O’Neill said: “Our collaboration with Heliogen on this innovative technology supports our commitment to building a low cost, lower-carbon, profitable, resilient and diversified portfolio.”