IAMGOLD ESSAKANE to benefit from the largest hybrid plant in Africa.
IAMGOLD Essakane SA gold mine, the largest privately held business in Burkina Faso, is currently off-grid and relies solely on costly and carbon intensive heavy fuel power.
The Essakane project is located in north-eastern Burkina Faso, West Africa. Approximately 330 km northeast of the capital, Ouagadougou.
Africa Energy Management Platform (AEMP), together with its partner EREN Renewable Energy (EREN RE), have reached an agreement with IAMGOLD Essakane SA to build a 15MWp solar plant to complement its current 55MW thermal power plant.
This project represents an investment of more than USD 20 million, and will run during the 15 years of the Power Purchase Agreement.
IAMGOLD Essakane SA gold mine is the largest privately held business in Burkina Faso, and yet, due to its isolated location, the mine is currently off-grid and relies solely on costly and carbon intensive heavy fuel thermal power.
The 15 MWp solar project, expected to be commissioned by the end of 2017, will help decrease the mine’s fuel consumption by approximately 6 million liters per year and reduce by nearly 18,500 tons its annual CO2 emissions, along with the creation of 40 new jobs. This deal was originated by AEMP, and developed conjointly with EREN RE the project Sponsor. Eren RE will be the majority shareholder while AEMP will own 10% of the project.
For large industries such as mining companies, which operate 24/7 and whose energy budget represents up to 30% of their operating costs, the hybridization of thermal power plants with a renewable energy source reduces energy costs, improves both the carbon and social footprint, and hedges against oil price volatility. With this project, IAMGOLD Essakane SA will both reduce its energy costs, and further enhance its Social License to Operate.
Read the press release here : Essakane Solar