Aussie miner Frontier Energy bets on clean energy with 114-MWp solar strategy
- Australian mining traveler Frontier Energy (ASX: FHE) is working on a 114-MW DC solar project in Western Australia under a broader strategy to become an integrated clean energy firm.
The Perth-based business claimed on Thursday that its stock has reactivated trading on the Australian bourse after an AUD-8-million (USD 5.9 m/EUR 5.5 m) fundraising to sustain the photovoltaic (PV) project. The fresh capital will certainly opt for covering land lease repayments and project-related researches.
The so-called Bristol Springs solar scheme is the initial of a series of renewable resource efforts prepared to be embarked on by the mining group. Amongst them are mounting wind as well as energy storage capacity as well as the manufacturing of eco-friendly hydrogen.
To be found in Western Australia's South West region, the Bristol Springs project has actually obtained growth authorization from state regulators, while an application for an electricity transfer gain access to agreement (ETAC) is in progression with Western Power. According to Frontier Energy, extra land purchase possibilities are readily available that could make it possible for the project to rise to 490 MW DC in capacity.
"The renewable energy market provides considerable growth opportunities, specifically to support nearby aluminium mining and also the Collie and Kwinana industrial districts, every one of which call for large decarbonisation," claimed handling supervisor Mike Youthful.
