- Hans Weber
- November 25, 2022
Statkraft lined up as green power supplier for Czech manganese project
September 27 (Renewables Now) – Euro Manganese Inc (CVE:EMN) on Monday said it has signed a non-binding memorandum of understanding (MoU) with Statkraft for the long-term supply of renewable power for its Chvaletice manganese project in the Czech Republic.
The agreement is expected to lead to a long-term power purchase agreement (PPA), with power supply seen to begin between 2026 and 2027.
The MoU with the Norwegian state-owned renewable energy producer is the result of Euro Manganese’s work with Baringa Partners LLP over the last year on long-term power pricing forecasts for the EU and on identifying strategic green energy suppliers. It supports the net-zero targets of the manganese project.
Canada-based Euro Manganese wants to produce high-purity manganese for the electric vehicle (EV) industry and other high-technology applications. Its flagship Chvaletice project aims to re-process manganese from waste, or tailings, from a decommissioned mine. It is said to be the only sizable resource of manganese in the EU.
Euro Manganese’s president and chief executive Matthew James noted that power is a large input for the project and sourcing 100% renewable energy will reduce its carbon footprint by about 50%. He added the use of green energy will also give the company a competitive advantage in discussions with customers who are focused on the carbon footprint of their supply chain.
“The ability to source competitively priced and green electricity is a key component of investment decisions made by energy-intensive industries wishing to establish new business ventures,” commented Statkraft’s senior vice president trading and origination Carsten Poppinga.