There is a global need to reduce the dependence on fossil fuels as a resource, increasing the share of renewable energy. RayGen has identified the market opportunity opened through the 2020 targets set by the EU to increase energy production from renewable sources to 20%. Additionally, current utility PV installations require a large quantity of PV panels (semiconductors), space (land resources) and are very capital intensive. RayGen offers a proprietary breakthrough utility scale solar energy technology that utilises a field of low cost heliostat collectors to concentrate sunlight onto an ultra-efficient multi-junction photovoltaic cell array located in a mast mounted central receiver. The system is easily scalable. The technology combines the benefits of traditional PV with solar thermal energy installations and leverages several patents and trade secrets. The technology has been validated through extensive lab tests and the Australian mother company has deployed two test sites in Newbridge, Australia and ZhouZhou, China. The objectives of RayGen’s Phase 2 project are to finalise engineering and optimisation of the scaled up power plant and its components; demonstrate and validate the technology through the deployment of a large scale in-field test; and develop a European supply and value chain. The overall objective of the project is to start full commercialisation of RayGen’s concentrated solar technology as a reliable innovation validated by the relevant clients, project developers and EPC contractors, and end-users, utility companies.