Cost is the issue with the EVM thermal updraft tower. The EVM collector/canopy would be the world's largest building. The tower would also be the world's tallest structure.
The collector would be around 20 to 25,000,000 square meters in area and most of it needs to be made of toughened glass and be air tight. The collector cost alone is likely to be billions assuming a cost of $80 to $100 per square meter. You can substitute your own figures for toughened glass and the framework. EVM has not given any written estimate of the likely collector, turbine and tower cost.
The EVM solar updraft tower is also untested. No test system has been built for 25 years. The EVM proposal is for a plant 4,000 times bigger than the Spanish experiment. That is like moving from a 1 kg toy car to a 4 ton truck.
To give a comparison of what EVM must compete with see the attached video of an existing solar power plant generating 110 megawatt. The total mirror surface is about 1 km, far less than the size of the EVM collector. This is the sort of solar thermal power generation that is well understood and likely to be installed in Australia.