GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) (“GoviEx” or the “Company”) announced the signing of a Memorandum of Understanding (“MOU”) with Windiga Energy Inc. (“Windiga”) to jointly evaluate the feasibility of powering the Company’s flagship Madaouela Project using a dedicated and renewable hybrid solar power solution. Windiga is Canadian energy developer focused on developing, owning and operating renewable energy facilities and off-grid smart power systems on the African continent.
The Company’s Chairman, Govind Friedland, commented: “We are pleased to begin exploring cleaner energy alternatives to power our future development activities in partnership with Windiga. The benefits of renewable, lower-cost energy are obvious, and we look forward to updating our stakeholders on the results of these studies.”
Initial discussions and collaboration between the Company and Windiga will target energy solutions for the Company’s flagship Madaouela Project – with the intent to reduce carbon dioxide emissions by more than 20,000 tons per annum and provide sustainable, renewable power at approximately 25% lower cost than traditional coal-fired options currently available in Niger. Coal-fired power costs are currently forecast at approximately 4% of total life of mine operating costs1.
GoviEx has requested that Windiga determine the feasibility of a solution to power the Madaouela Project and the surrounding local community through a hybrid power plant combining photovoltaic solar panels and diesel generators with total installed capacity of at least 20 MW.
Under the terms of the MOU, following a favourable result from a feasibility study, GoviEx will have an opportunity to negotiate a power purchase agreement for the priority supply of electricity for an initial term of 21 years, extendible at the request of GoviEx.
Source: GoviEx Uranium