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Syrah signs MoU for solar and battery project at Balama
release time :2020-12-22 10:13:07 page view:663

Dec. 22, 2020 - Syrah Resources Limited (ASX: SYR) (“Syrah” or “Company”) is pleased to announce a Memorandum of Understanding (“MoU”) with Solar Century Africa Limited (“Solarcentury”) to progress a solar and battery storage hybrid power system to work in conjunction with the existing diesel generation power plant at Balama in Mozambique.

The solar and battery storage system aims to reduce CO2 emissions and operating costs at Balama.

Syrah Managing Director and CEO Shaun Verner said, “Progression of a large-scale solar and battery installation will reduce the operating cost base at Balama and further strengthen the ESG credentials of Balama’s natural graphite supply and the future supply from our vertically integrated battery anode material project in Vidalia, USA.”

Schematic of indicative layout for planned solar installation at Balama

Solarcentury and Syrah have undertaken technical design and pricing analysis through 2020 for several solar and battery options at Balama, from which Syrah has chosen its preferred solution of 11.2Mw solar with an 8.5Mw battery, subject to final design. The solar and battery installation will work in conjunction with the existing 15Mw diesel generation power plant at Balama, which was chosen as a low risk power generation option for the initial establishment of operations at Balama.

The MOU establishes the terms and conditions under which Syrah and Solarcentury will continue with the development of the design, funding, construction and operation of a solar and battery installation under a build, own, operate and transfer (“BOOT”) arrangement. 

About Solar Century

Established in 1998, Solarcentury is a leading global solar power company that develops, constructs, owns and operates utility-scale solar and smart technology. Solarcentury is known internationally for developing and building some of the largest utility-scale solar projects in the UK, the Netherlands, Spain, Kenya and Mexico, including pioneering projects such as the world’s first solar bridge at Blackfriars Station in Central London.

Solarcentury’s mission is to make a meaningful difference in the global fight against climate chaos by making solar power the dominant energy source worldwide. During Solarcentury’s 22-year history, the business has helped solar power become mainstream, and its projects have generated 6 billion kWh of clean electricity, saving over 1.7 million tonnes of CO2 emissions.


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