As of the publication, the stock has risen by 30%, reaching $2.14.
According to Wisdom Financial APP, on Monday, Vast Renewables (VSTE.US) saw its stock price rise, with an increase of 30% to $2.14 as of the publication. The company previously announced that it has signed an updated financing agreement to receive up to $30 million from the existing $65 million funding from Australian renewable energy institutions to support its green technology manufacturing and project development activities.
Vast Renewables stated that the next-generation concentrated solar thermal power generation technology validated in its New South Wales grid-connected pilot project will be deployed on a large scale at Vast Solar 1 (a 30-megawatt power plant with 8 hours of energy storage capacity at the Port Augusta Renewable Energy Center in South Australia). VS1 is expected to start construction in the second quarter of 2025, with capital expenditure estimated between $0.36 billion and $0.39 billion Australian dollars.
