Russian miner Polyus says its power consumption is fully covered by renewables

Russian gold mining company Polyus PJSC (LON:PLZL) said Thursday that it has bought I-REC green certificates to offset emissions from the remaining share of energy consumption that it did not cover under direct procurement of renewables.

Renewables now represent 100% of Polyus group energy consumption, the miner said.

The green certificates were issued by Russian power company TGC-1 (MCX:TGKA) for two hydro units as generating facilities, and regional supplier Vitimenergosbyt for one hydropower plant. The transactions amount to a total of 303.5 GWh.

Earlier this year, Polyus signed an agreement with hydropower major RusHydro PJSC to procure around 1 TWh by the end of 2021. The agreement was to help the miner cover up to 90% of its total electricity demand with clean power.

Polyus said that it will continue to purchase I-REC certificates to fully offset the energy consumed from non-renewable sources and secure the green power supply directly.

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