NV Energy to study up to 500 MW solar on Nevada Copper land

Nevada Copper Corp (TSE:NCU) and US utility NV Energy will study the possibility of installing several hundred megawatts of solar capacity at the site of a proposed copper mine in Nevada.

The pair have signed an agreement to evaluate the potential to develop the solar project on land privately-owned by the mining company, adjacent to the Pumpkin Hollow copper development project, near the City of Yerington. According to data by the National Renewable Energy Lab (NREL), the level of solar irradiation at project area stands at 6.5-7.0 kWh per sq m per day.

“Initial investigations indicate the potential for up to 500 MW of solar generation on our project landholdings surplus to our mining needs,” said Giulio Bonifacio, CEO of Nevada Copper, in the statement on Thursday.

The three-month solar study will assess the feasibility of a solar project and the energy transmission options. It will be done at no cost to the mining firm. The agreement includes a 90-day exclusivity period for NV Energy. If the parties do not reach a development agreement after the study is over, Nevada Copper will be free to solicit interest for a solar project from other potential partners.

Nevada Copper estimates that between 2,000 and 4,000 acres of land in the area of proposed mine facilities could be used for solar generation. This land is owned by the company, the zoning allows for solar development and there are no environmental or engineering constraints, it noted. The copper project and the solar complex could also share grid-connection costs.

"Nevada Copper is very interested in developing solar energy on its project area, both to supply power to the mine, and to deliver power to the grid," Bonifacio added.

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