Emesco has entered into a Power Purchase Agreement with Trevali Mining Company for the supply of solar power to Trevali's Rosh Pinah Mine, located in Namibia.
Trevali Enters Into Renewable Energy Power Purchase Agreement to Reduce Rosh Pinah's Green House Gas Emissions by Approximately 30%
VANCOUVER, BC, April 7, 2021 /CNW/ - Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) (Frankfurt: 4TI) is pleased to announces it has entered into a 15 year renewable Power Purchase Agreement (the "PPA") with Emerging Markets Energy Services Company ("EMESCO") for the supply of solar power to Trevali's Rosh Pinah Mine, located in Namibia.
Trevali has committed to achieving an overall Green House Gas ("GHG") emission reduction target of 25% by 2025 from its 2018 baseline. The PPA with EMESCO is anticipated to deliver 30% of Rosh Pinah's power requirements during the life of the agreement and reduce GHG emissions at the Company level by 6%.
EMESCO will be responsible for the design, permitting, financing and implementation of a solar energy system on a neighbouring property at no cost to Trevali. EMESCO will sell the power generated to Trevali at a fixed rate that is expected to reduce energy costs by 18% over the fifteen-year term of the agreement.
EMESCO was chosen based on a variety of factors, including expertise in the field of renewable energy, an understanding of the scope of work required, the ability to execute and deliver on Trevali's requirements, and pricing.
If Trevali makes a positive investment decision on the RP2.0 expansion project, EMESCO will increase the delivery of power to Rosh Pinah to remain at 30% of the mine's annual energy consumption as regulated by the Modified Single Buyer framework in Namibia.
Ricus Grimbeek, President & CEO, stated, "Our sustainability program commits to significant reductions in GHG emissions, and with the signing of this agreement with EMESCO we have taken a major step towards delivering on our commitment by securing renewable energy while also reducing our expected energy costs.
The agreement with EMESCO has been designed to scale with the output of the mine so that when we are ready to make the decision to build the RP2.0 Expansion project, the delivery of power will increase to match our requirements.
We are extremely excited by this partnership at Rosh Pinah and continue to study ways to reduce Trevali's GHG emissions and deliver on this and our other sustainability targets."
Trevali is a global base-metals mining Company headquartered in Vancouver, Canada. The bulk of Trevali's revenue is generated from base-metals mining at its four operational assets: the 90%-owned Perkoa Mine in Burkina Faso, the 90%-owned Rosh Pinah Mine in Namibia, the wholly-owned Caribou Mine in northern New Brunswick, Canada and the wholly-owned Santander Mine in Peru. In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada, and the past producing Ruttan Mine in northern Manitoba, Canada. Trevali also owns an effective 44% interest in the Gergarub Project in Namibia, as well as an option to acquire a 100% interest in the Heath Steele deposit located in New Brunswick, Canada.
The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company's website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
EMESCO is a full lifecycle energy services company operating in the renewable energy markets of Southern Africa. EMESCO delivers reliable, cost-effective, clean energy, having implemented 32 MW of Solar PV projects in the region. Emesco develops, implements, operates and maintains renewable energy assets for commercial, industrial and utility scale customers in Namibia.