At press time, the stock was up 30% to $2.14
The Zhitong Finance App learned that on Monday, the stock price of Vast Renewables (VSTE.US) rose. As of press release, the stock had risen 30% to $2.14. Earlier, the company said it had signed an updated financing agreement to receive up to $30 million in funding from the Australian Renewable Energy Agency's existing $65 million grant to support its green technology manufacturing and project development activities.
Vast Renewables said the next generation concentrated solar thermal power generation technology validated in the NSW grid-connected pilot project will be deployed on a large scale at Vast Solar 1 (the company's 30-megawatt power plant at the Port Augusta Green Energy Center in South Australia with 8-hour energy storage capacity). Construction of VS1 is expected to begin in the second quarter of 2025, and capital expenditure is expected to be between 0.36 billion and 0.39 billion Australian dollars.
