SUNCUBE

Mr KENYON (Newland) (17:15): On 17 February I was very pleased to attend the launch of the SunCube by Green & Gold Energy. Under Greg Watson's management, Green & Gold Energy has developed a new way of generating solar electricity in this state. The company is based at Glynde, and it has found a way of generating solar electricity that will work out to be roughly half (maybe a third) the cost of conventional solar electricity, which brings it into the range of roughly the same price as gas generation or cleaner coal as it currently stands which, for those members who might have a little think about it, is quite a revolution.

I expect that, within the next few years, we will see the ever-increasing roll-out of these SunCubes and the gradual disappearance of flat panels with the exception of some specialist applications. It is really amazing that this should be developed in Adelaide with very little interference from anyone else. Greg Watson has done a tremendous job with his small team, and it is just starting to ramp up. On the same day (17 February) Green & Gold Energy announced plans to start manufacturing in Australia and, within three years, to establish a manufacturing plant employing 1,000 people and to produce 1,000 megawatts a year of generating capacity.

At the same time Green & Gold Energy is signing agreements with companies in other countries to do a similar thing. As we speak today, it is being launched in Spain. The company is doing its European launch. Greg Watson recently launched the product in India. It is all manufactured under licence. We are seeing a flow of royalties and export dollars into South Australia. On 26 March the company announced that it had won a $450,000 contract to build three grid-connected SunCube energy farms in South Australia.

A lot has happened in such a short space of time—only a couple of years, really, from the time that Greg went on The New Inventors program on Channel 2 with the original 'SunBall', which was then converted to the SunCube for ease of manufacturing—and it is my opinion that this company will storm the world. It is really amazing. To Greg and everyone at Green & Gold Energy, I extend my sincere congratulations.

I am happy to have been involved in the last few years trying to help this product get to the stage where it can become a great manufacturing operation. I do not know that I have been particularly useful, but I have certainly done what I could. I am proud to have been involved.