Griffin inaugurates solar facility at Caijiaying Mine

10th Oct 2023 16:19

(Sharecast News) - Griffin Mining announced the inauguration of a 6 MW solar energy generating facility at the Caijiaying Mine on Monday in collaboration with Zhang Jia Kou GuoAO, the partnering firm responsible for the system's installation and ongoing operation.

The AIM-traded firm said the facility, comprising 25,753 square metres of solar panels, was constructed and commissioned atop Griffin's rehabilitated mine tailings facilities one and two within 12 months.

With the imminent integration of a battery energy-saving system, Griffin said it expected the facility to fulfil up to 30% of the mine's total electric power demand under customary weather conditions.

Further, it could redirect surplus energy into the local grid during periods of mine shutdown, thus generating additional revenue.

Griffin supplied the land, garnered the necessary approvals, and arranged a 20-year off-take agreement exclusive to the partner.

The partner reciprocated by overseeing the installation and committing to manage the system throughout its lifecycle.

Looking ahead, Griffin said the partners were considering the replication of the partnership model.

Tailings facility number three, slated for impending decommissioning, was identified as a potential site for further renewable energy generation, potentially harnessing both wind and solar power, pending the results of an ongoing study.

"The company continues to deliver, not only on its Green Mine Certification status, but far in excess of those obligation, ie on its moral commitment to both the People's Republic of China and all the citizens of the world in moving to the cleanest and greenest mine we can possibly operate," said chairman Mladen Ninkov.

"I sincerely believe that the Caijiaying Mine must now be one of if not the most environmentally friendly mine in the world, and we look forward to pushing our green energy horizon even further in the years to come.

"I am proud of everyone who was involved in this process."

At 1310 BST, shares in Griffin Mining were up 1.45% at 94.25p.

Reporting by Josh White for Sharecast.com.