First Solar has announced that they intend to construct a set of solar power plants amounting to 200 MW in Australia, to provide mines with power.
These plants, assisted by diesel-fueled generators, are expected to reduce the electricity cost of mining firms in Australia, and shield them from rising electricity prices, which will eat into their profits even further. This came at a time when much-needed, as profitability of the mining operations has decreased.
'In an environment where profitability isn’t what it used to be, with the mining industry focused on cost control, the electricity that powers the mines is becoming a bigger line item, and the ability to put a dent in that and hedge against fuel price volatility is something that solar offers,' said Jack Curtis, VP of business development for First Solar in the Asia-Pacific.
Mr. Curtis also noted that project announcements in this sector were close.
Construction of these power plants will take place over the next three years.
Source: PV Magazine.