Lion One Metals and meeco signed Term Sheet Agreement for building sun2live solar hybrid system
Remote islands face the severe threats of negative effects of climate change. The Swiss-based clean energy provider The meeco Group is conversant in developing on- and off-grid clean energy solutions for remote areas and will now spur the deployment of large- and medium-scaled clean energy solutions in the island state of Fiji.
meeco, herein represented by its local joint venture oursun Pacific Limited, will design, engineer and install a 7 MWp sun2live solar system to minimise the polluting emissions of CO2 caused by the commercial utilisation of fossil fuels. The sun2live system is meeco’s solar power generation solution for grid-connected and off-grid use, comprising of Tier-One Solar Modules, inverters and mounting systems adapted to the local conditions. The respective Term Sheet for the 7 MWp ground-mounted solar power plant was concluded with the Canadian development and exploration company Lion One Metals Limited, which will subsequently be a 50% shareholder of the SPV through an already agreed buy-in structure.
As a high-grade gold producer, Lion One Metals owns and will operate the Tuvatu Gold Project in Fiji. The Tuvatu gold mine is located on the west coast of Viti Levu and is the largest to be developed gold project on the island and moreover one of the most elaborated high-grade gold projects worldwide. To operate the gold mine 24 hours per day, oursun Pacific will develop, build and operate a 7 MWp sun2live solar hybrid system in combination with diesel generators with a total production capacity of up to 11 MWp, which assures continuous power supply for 24 hours a day. The sun2live solar system will be built on 4.1 hectares of presently unused lands, which are 3.5 km away from the Tuvatu Gold Project and 17 km from the Nadi International Airport. The estimated annual eco-friendly energy production of the sun2live system will be approximately 10.31 GWh and thus will displace more than 6,000 tons of CO2 emissions per year.
Furthermore, meeco’s intelligent energy management system sun2safe XXL will be installed to manage and to optimise the power production and the energy supply.
“The construction of the sun2live and sun2safe XXL installation, especially in that unique size, will be a flagship project for the Fiji energy roadmap, progressing the goal of the Fijian Government to increase the renewable energy capacity in the country”, states Nayeem Subedar, Director of oursun Pacific. “The island has abundant natural renewable energy resources but still depends heavily on imported fuels. The solar farm will have a positive and measurable impact on the Fiji environment and economy. These key attributes of the project are also expected to translate into social benefits for the people of Fiji.”
|Competitive solar energy through PPA. Learn more about it here.