Aussie firm changes Canadian coal project to renewables

Australia’s Montem Resources Ltd (ASX:MR1) this week said it plans to change a coal mine re-start project in Alberta, Canada to one for a renewable energy complex consisting of a 320-MW pumped hydro energy storage facility, a 100-MW green hydrogen electrolyser and a 100-MW offsite wind farm.

Independent expert studies have indicated the viability of such a renewable energy project.

The company’s Tent Mountain project in Alberta can thus result in Canada’s first large-scale production of green hydrogen, with planned output of up to 13,000 tonnes of green hydrogen a year, it said.

Montem is working with the Piikani Nation on exploring the mutual benefits of the project and the development of a wind farm to supply electricity to the pumped hydro energy storage system.

“The Tent Mountain site has inherent advantages for a large renewable energy complex, including a 300m drop between two reservoirs that were formed during previous mining operations, and are on land owned by Montem,” explained managing director and chief executive Peter Doyle.

Montem has applied for CAD 5 million (USD 4m/EUR 3.5m) from Canada’s Clean Fuels Program to help fund the feasibility stage, which is expected to last 12 to 18 months.

(CAD 1 = USD 0.810/EUR 0.697)

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