Enerji hunts for funding for Jundee power project
PERTH (miningweekly.com) – ASX-listed Enerji on Friday told shareholders that the company was assessing and refining project financing options to fund a power plant at the Jundee gold project, in Western Australia, and other future projects as and when they were secured.
Earlier this year, gold miner Northern Star Resources struck a power purchase agreement (PPA) with Enerji, which would see Enerji supply and install a 1.5 MW heat-to-power plant at the Jundee mine, capturing waste heat and converting it into usable power.
The PPA would run for an initial five-year term, and the installation at Jundee would involve the deployment of Enerji’s advanced thermal energy node 4 plant, comprising a 750 kW wet steam turbine and a 750 kW Rankin cycle turbine.
Enerji said that the company was in negotiations with a number of interested parties and expected that traditional project financing would be best suited to roll out its heat-to-power technology.
A formal funding agreement was expected within the March quarter.
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