TIDMCEY
RNS Number : 3330X
Centamin PLC
04 May 2021
4 May 2021
Centamin plc
("Centamin" or "the Company" or "Group", including its
subsidiaries)
LSE: CEY / TSX: CEE
SUKARI 36mw solar plant contract awards
MARTIN HORGAN, CEO commented: "Centamin's decision to integrate
sustainable solar power at Sukari is fully aligned with our
commitment to responsible mining. It has enabled us to marry up our
environmental stewardship philosophy with our strategic objective
of maximising returns for all stakeholders. With phase one of the
project near complete, including completion of the pioneering works
across the 85-hectare site, concluding these definitive
engineering, procurement and construction contracts was the next
significant milestone in delivering the Sukari solar plant. Working
with our partners we will deliver the largest hybrid solar project
of its kind, which will reduce our fuel consumption and greenhouse
gas emissions from 2022 onwards."
solar POWERING SUKARI INTO THE FUTURE
Centamin announces it has awarded the engineering, procurement
and construction contracts for the 36MW solar farm and 7.5 MW
battery-energy storage system at the Sukari Gold Mine ("the Sukari
solar plant") to:
-- juwi AG ("juwi"): juwi has been contracted to design, supply
and integrate the Sukari solar and battery plant into the current
diesel power plant. juwi are renewable energy specialists, with an
established track record of developing and integrating renewable
energy solutions for mines; and
-- Giza Systems ("Giza"): Giza have been contracted to install
the Sukari solar plant. Giza are systems integrators in the Middle
East and Africa region. Solar is a rapidly growing source of power
within Egypt and Centamin is able to benefit from the expanding
local expertise, whilst remaining committed to promoting and
prioritising local socio-economic partnerships.
The Sukari solar plant will be the largest hybrid solar project
at an off-grid mining operation globally and is expected to reduce
diesel fuel consumption at Sukari by an estimated 22 million litres
per annum and lower carbon emissions by an estimated 60,000 tonnes
CO(2) -e per annum. The project is scheduled to be commissioned
late in H1 2022.
Sukari is optimally located within Egypt's Eastern Desert which
has some of the highest levels of solar irradiance globally,
averaging over ten hours of sunshine a day throughout the year. To
maximise the total energy generation, the project will use bifacial
solar PV modules and a single axis tracking. juwi Hybrid IQ
micro-grid technology will enable the integration of the solar and
battery system into the existing off-grid network and support the
operation of the existing power station.
Further benefits of integrating solar as a sustainable power
solution are the r eduction in operating costs, including an
estimated US$9-13 million savings in annual fuel costs and reduced
exposure to fuel price volatility; increased reliability of the
power system; and reduced traffic and fuel transport to and from
site. The project has been engineered with a longer-term outlook,
enabling the solar and battery capacity to be increased if
required.
The total project capital expenditure is estimated at US$37
million.
About the juwi group
The juwi group is one of the leading specialists for renewable
energies. The German renewable energy pioneer has been offering
complete project development as well as other services relating to
the planning, construction and operation of renewable energy
systems for 25 years. The juwi group's business areas include
projects with wind and solar energy as well as hybrid systems with
storage systems for industrial applications.
juwi was founded in 1996 in the German state of
Rhineland-Palatinate. The company is now based in Wörrstadt near
Mainz and has been part of Mannheim-based MVV Energie AG, one of
the largest municipal energy providers in Germany, since the end of
2014. The juwi group employs around 850 people worldwide and has
projects on every continent. There are subsidiaries in: Germany,
Italy, Greece, South Africa, the USA, Japan, Australia, India as
well as the Philippines, Thailand and Singapore.
To date, juwi has implemented more than 1,000 wind energy
systems with an output of more than 2,400 megawatts at around 180
locations worldwide; in the solar segment there are around 1,800 PV
systems with a total output of more than 3,000 megawatts. Together,
these energy systems generate around nine billion kilowatt hours of
electricity each year; In purely mathematical terms, this
corresponds to the annual requirements of around three million
households in Germany. For the implementation of the energy
projects, juwi has initiated an investment volume of almost ten
billion euros over the past 25 years.
About Giza Systems
Giza Systems, a leading systems integrator in the MEA region,
designs and deploys industry-specific technology solutions for
asset-intensive industries such as the telecoms, utilities, oil and
gas, hospitality and real estate among other market sectors. We
help our clients streamline their operations and businesses through
our portfolio of solutions, managed services, and consultancy
practice. Our team of 1200 professionals are spread throughout the
region with anchor offices in Cairo, Riyadh, Dubai, Doha, Nairobi,
Dar-es-Salaam, Abuja, Kampala and New Jersey, allowing us to
service an ever-increasing client base in over 40 countries.
FOR MORE INFORMATION please visit the website www.centamin.com or contact:
Centamin plc Buchanan
Alexandra Barter-Carse, Corporate Communications Bobby Morse / Kelsey Traynor
+44 (0) 7700 713 738 + 44 (0) 20 7466 5000
i nvestors @centamin.je centamin@buchanan.uk.com
ENDNOTES
Commodity prices
The current diesel fuel price paid at Sukari is US$0.43 per
litre and long-term diesel price assumption of US$0.60 per
litre.
Guidance
The Company actively monitors the developments of the COVID-19
pandemic and guidance may be impacted if the workforce or operation
are disrupted.
Financials
Financial data points included within this report are
unaudited.
Forward-looking Statements
This announcement (including information incorporated by
reference) contains "forward-looking statements" and
"forward-looking information" under applicable securities laws
(collectively, "forward-looking statements"), including statements
with respect to future financial or operating performance.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "believes",
"expects", "expected", "budgeted", "forecasts" and "anticipates".
Although Centamin believes that the expectations reflected in such
forward-looking statements are reasonable, Centamin can give no
assurance that such expectations will prove to be correct.
Forward-looking statements are prospective in nature and are not
based on historical facts, but rather on current expectations and
projections of the management of Centamin about future events and
are therefore subject to known and unknown risks and uncertainties
which could cause actual results to differ materially from the
future results expressed or implied by the forward-looking
statements. In addition, there are a number of factors that could
cause actual results, performance, achievements or developments to
differ materially from those expressed or implied by such
forward-looking statements; the risks and uncertainties associated
with the ongoing impacts of COVID-19 or other pandemic, general
business, economic, competitive, political and social
uncertainties; the results of exploration activities and
feasibility studies; assumptions in economic evaluations which
prove to be inaccurate; currency fluctuations; changes in project
parameters; future prices of gold and other metals; possible
variations of ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; climatic
conditions; political instability; decisions and regulatory changes
enacted by governmental authorities; delays in obtaining approvals
or financing or completing development or construction activities;
and discovery of archaeological ruins. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information or statements, particularly in
light of the current economic climate and the significant
volatility, uncertainty and disruption caused by the outbreak of
COVID-19. Forward-looking statements contained herein are made as
of the date of this announcement and the Company disclaims any
obligation to update any forward-looking statement, whether as a
result of new information, future events or results or otherwise.
Accordingly, readers should not place undue reliance on
forward-looking statements.
LEI: 213800PDI9G7OUKLPV84
Company No: 109180
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END
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