New Century Resources Signs MOU For Solar Energy Production
New Century Resources Limited has provided an update on Century operations, including record monthly production, and signed a non-binding Memorandum of Understanding (MOU) with APA Group (APA) for the delivery of up to 8 MW of solar power to the Century Mine.
New Century and APA have signed a non-binding Memorandum of Understanding (MOU) for the provision of up to 8MW of renewable solar power from the Mica Creek Solar Farm, which is currently under development.
The MOU is a significant step forward in New Century's continuous commitment to improving ESG performance and seeking possibilities to lower the carbon intensity of its activities.
Combining this new renewable solar energy generation with the current supply from the highly efficient Diamantina Power Station complex would result in a lower average delivered cost of power to Century while lowering associated carbon emissions significantly.
New Century will save costs by retaining the accompanying Large-scale Generation Certificates (LGC) from the acquired solar power.
The parties will collaborate on additional new renewable generation potential in the region under the MOU to significantly reduce carbon emissions and provide long-term clean energy supply with price stability.
New Century managing director Patrick Walta said:
“We are delighted to be working with the APA Group on identifying opportunities to reduce the carbon intensity of the Century Mine and the broader North West Minerals Province (NWMP).
“In 2021, New Century set out an ambition for transparently reporting on our ESG performance through our Sustainability Report and for improving the way our operations interact with the environment and with society.
"The MOU with the APA Group represents a milestone in our efforts to address the carbon intensity of our Century operations and to reduce operational costs at Century through cooperative endeavours with our suppliers.”
APA Group executive, for Strategy and Commercial, Darren Rogers, said:
“APA is pleased to be working with New Century as a valued customer on this MOU and on identifying opportunities for new renewable energy solutions to its operations in North West Queensland.
"As we continue to investigate and develop new renewable projects in the region, we will work with New Century and other resource sector operators in the region to supply renewable energy solutions for the sector and contribute to reducing the carbon intensity of the industry.
“This MOU supports APA’s vision to expand our renewables portfolio in the region and help our customers reduce their emissions as they – like APA – seek to decarbonise their operations.
"Once the PPA amendment is agreed and signed, APA will have three major customers supporting the 88-megawatt Mica Creek Solar Farm, demonstrating the enthusiasm of customers in the region for integrated energy solutions that can both meet their energy needs and help reduce their operational emissions.”
Source: New Century Resources