- Press Releases
April 23 (Renewables Now) - Norway’s Scatec ASA (OSL:SCATC) has singed a flexible lease agreement to install an 8.5-MW solar plant to provide power to the Mexican mines of Canada's Torex Gold Resources Inc (TSE:TXG).
The deal covers Scatec's pre-assembled and containerised photovoltaic (PV) solution named "Release by Scatec", the Scandinavian company announced on Thursday.
Under an initial ten-year contract, the PV plant will supply its output to the Morelos Media Luna and El Limon Guajes projects in the Guerrero Gold belt, located 180 km (111.8 miles) southwest of Mexico City.
The contract not only makes it possible to expand the site at any time and add battery storage, but also includes an option for the buyout of the asset after the expiry of the third year.
Scatec estimates that the solar installation will be completed in the fourth quarter of 2021, if granted the necessary approvals. Once in operation, it will reduce Torex’ scope 2 greenhouse emissions by up to 8.6% from a 2019 baseline, the firm noted.