https://oilprice.com/Alternative-Energy/Renewable-Energy/Renewables-On-The-Rise-In-The-Mining-Industry.html
[links in online article]
Renewables On The Rise In The Mining Industry
2019.12.28
In a recent report, consultancy firm THEnergy stated that 2019 saw
significant growth in the number of mining companies materially
committing to develop onsite renewable energy projects.
“The year 2019 has been identified as the tipping point. The business
case for partly substituting expensive fuel like diesel, heavy fuel oil
(HFO) or gas by solar and wind had been positive on paper for years.
However, actual projects have evolved slowly,” the report states. “[Yet]
in 2019, almost a dozen new projects have been officially announced and
at the same time many more projects are under development and on the
verge of being announced.”
And it’s easy to see why. Renewable energy could be extremely beneficial
to miners.
THEnergy’s document is the result of the consultancy’s participation in
the 7th Energy and Mines World Congress, which took place in Toronto
this December and where some 100 miners met to discuss topics related to
sustainable and environmentally-friendly solutions to their power needs.
At the event, most mining companies expressed they are willing to
decarbonize and pursue initiatives that go well beyond renewables, such
as electrification of mining vehicles. They also said that they are
aware that such initiatives will further increase their electricity
demand, which means that locally generated renewable energy sources have
to be found. Though renewables were long thought to be a costly
alternative, things are beginning to change.
Since the solutions that are being built now are more sophisticated than
they were before and they allow for storing energy, miners said they
have increased trust in the possibilities offered by clean energy and
the minimized risks of production losses.
“Before, the general attitude was characterized by ‘wait and see,’ but
the mode has been changing in 2019 to ‘let’s act now,’” THEnergy’s
report reads. “Nick Holland, CEO of Gold Fields, a mining company that
is a pioneer in integrating renewables, pointed out in his keynote that
cost savings are possible, and a cost-efficient decentralization of
power generation enabled by renewables comes with further advantages,”
the brief adds.
Evidence presented during the congress showed that most newly announced
projects combine different sources of renewable energy, such as solar
and wind, as well as energy storage solutions.
The logic behind the mix is that solar and wind output is often
negatively correlated, which means that when solar irradiation is high
wind speeds are typically low, and vice versa. However, if both elements
are in place, when one goes down the other can still maintain the energy
supply.
Based on the presentations at the Toronto conference and its own
research, THEnergy believes that the idea of mixing and matching energy
sources could even see a renaissance of hydropower.
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