Trevali has committed to achieving an overall
EMESCO will be responsible for the design, permitting, financing and implementation of a solar energy system on a neighbouring property at no cost to Trevali. EMESCO will sell the power generated to Trevali at a fixed rate that is expected to reduce energy costs by 18% over the fifteen-year term of the agreement.
EMESCO was chosen based on a variety of factors, including expertise in the field of renewable energy, an understanding of the scope of work required, the ability to execute and deliver on Trevali's requirements, and pricing.
If Trevali makes a positive investment decision on the
Ricus Grimbeek, President & CEO, stated, "Our sustainability program commits to significant reductions in GHG emissions, and with the signing of this agreement with EMESCO we have taken a major step towards delivering on our commitment by securing renewable energy while also reducing our expected energy costs.
The agreement with EMESCO has been designed to scale with the output of the mine so that when we are ready to make the decision to build the
We are extremely excited by this partnership at Rosh Pinah and continue to study ways to reduce Trevali's GHG emissions and deliver on this and our other sustainability targets."
ABOUT TREVALI
Trevali is a global base-metals mining Company headquartered in
The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company's website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
About EMESCO
EMESCO is a full lifecycle energy services company operating in the renewable energy markets of Southern Africa. EMESCO delivers reliable, cost-effective, clean energy, having implemented 32 MW of Solar PV projects in the region. Emesco develops, implements, operates and maintains renewable energy assets for commercial, industrial and utility scale customers in Namibia.
Cautionary Note Regarding Forward–Looking Information and Statements
This news release contains "forward-looking information" within the meaning of Canadian securities legislation and "forward–looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward–looking statements"). Forward-looking statements are based on the beliefs, expectations and opinions of management of the Company as of the date the statements are published, and the Company assumes no obligation to update any forward–looking statement, except as required by law. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "outlook", "guidance", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology.
Forward–looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements with respect to the PPA with EMESCO, including the anticipated term of the PPA and the power consumption requirements at the Rosh Pinah mine over this period, the ability of EMESCO to design, permit, finance and implement a solar energy system on a neighbouring property at no cost to the Company, EMESCO's ability to supply the contracted amount of power at a fixed rate over the term of the PPA and the cost savings to the Company as a result of same, the impact of the PPA on the reduction in GHG emissions at Rosh Pinah and the contribution of same to achieving Trevali's broader sustainability targets, the Company's growth strategies and planned development activities, including the potential expansion of the Rosh Pinah mine, the timing and amounts of estimated future production, success of mining activities, environmental risks, and the impact on the Company's operations of current and future actions taken by governmental authorities, counterparties and others to the COVID-19 pandemic. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to the PPA with EMESCO, including that EMESCO may not be able to successfully design, permit, finance and implement the solar energy system in the manner contemplated by the PPA, or at all; that the PPA may not deliver the expected cost savings and GHG emissions reduction; changes in project parameters as plans continue to be refined, including with respect to the
SOURCE
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