Bushveld Minerals Ltd (LON:BMN) said it has received environmental authorisation for its solar-plus-storage mini-grid project that its being developed at the company’s Vametco vanadium mine and processing plant in South Africa.
The energy solution will integrate a 3.5-MW solar photovoltaic (PV) power station and 4 MWh of vanadium redox flow battery (VRFB) storage.
Spanish group Abengoa SA (BME:ABG) has been selected as the engineering, procurement and construction (EPC) contractor for the project and will be responsible for supplying the PV component and integrating the system at the Vametco mine. Its contract also includes maintenance of the mini-grid after commissioning. Austria-based Enerox GmbH, the VRFB developer owned by a consortium which includes Bushveld, will supply the 1-MW/4-MWh battery.
Additionally, Bushveld has signed a memorandum of understanding (MoU) with South African investment manager Thebe Investment Corporation, which will be its equity partner in the development and funding of the project.
The project is being structured as a separately funded independent power producer that will sell the output to the Vametco mine under a power purchase agreement (PPA). The South African miner expects to achieve financial close once it receives the generation licence.
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