Resolute Mining Limited expects to save around 40% in power costs at its Syama Gold Project in Mali after executing an agreement for the development of a 40-megawatt independent solar hybrid power plant.

A Joint Development Agreement (JDA) has been signed with Ignite Energy Projects Pty Ltd, a leading financier, developer and operator of power projects in Africa. The Syama Solar Hybrid Power Plant will combine solar, battery, and heavy fuel oil (HFO) technologies.

When constructed, this innovative project is expected to be the world’s largest off-grid, fully integrated hybrid power plant for a standalone mining operation. Resolute’s managing director and CEO John Welborn said the company was pleased to announce the JDA, which followed a comprehensive global evaluation process seeking the most cost-effective, environmentally-friendly power solution.

Source: Proactive Investors