Gold Road Resources (ASX:GOR) to spend $38 million on Hybrid Energy Microgrid - Sequoia Direct Pty Ltd

08DecDecember 8, 2020

Gold Road Resources (ASX:GOR) to spend $38 million on Hybrid Energy Microgrid

Gold Road Resources (ASX:GOR) and Gruyere Mining Company Pty Ltd, are planning power expansion initiatives at the Gruyere Gold Mine, a 50:50 joint venture between Gold Road and Gold Fields, located in Western Australia.

APA Group (ASX:APA) have been contracted to install an additional 4MW reciprocating gas-fired engine by mid-2021 (Phase 1) and build, own and operate a 13MWp solar farm and 4.4MW battery energy storage system by the end of 2021 (Phase 2).

The cost of the Phase 1 and Phase 2 expansion will be around $38 million.

Phase 1 and Phase 2 will increase the installed power capacity at Gruyere to 64MW.

Shares in Gold Road Resources (ASX:GOR) are trading 1.6 per cent higher at $1.27.

Copyright 2020 – Finance News Network

Source: Finance News Network

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