Australia – TheNewswire – October 20, 2022 – Jervois International Limited (“Jervois“or the”a company(ASX: JRV) (TSXV: JRV) (OTC: JRVMF) has secured access to long-term renewable electricity in its operations in Finland as a flow through two separate 10-year contracts with Statkraft AS (“Statcraft”) and Gasum Oy (“Gazum”) which Umicore has entered into for its neighboring business. Under the operating relationship of Jervois and Umicore at the Kokkola Industrial Park, Umicore is responsible for providing a number of facilities and other services to Jervois under the Master Services Agreement (“MSA”).
This renewable electricity accounts for nearly two-thirds (or 17.5 GWh) of the total annual energy consumption in Jervois’ operations in Finland (before potential expansions) and will start in 2024 (Statkraft) and 2025 (Gasum) respectively. These contracts for renewable electricity generated from onshore wind are expected to reduce CO2 for Jervois Finland2 eq Emissions up to 30%.
In addition to reducing Jervois’ carbon footprint, these contracts also stabilize the cost of the company’s purchased electricity, reducing exposure to current and future fluctuations in European energy markets for the mutual benefit of the company and its customers.
Statkraft will provide certified renewable electricity annually until 2033, from the Nuolivaara wind farm, in northern Finland. The unsupported wind farm will consist of 17 wind turbines with a total installed capacity of 96.9 MW and is expected to be commissioned in 2024.
Statkfraft is owned by the Norwegian state, and as a leading power purchase agreement (“PPA”Provider, brings together electricity producers and companies from trade and industry across Europe and develops new innovative concepts. In Finland, Statkraft offers PPAs to industrial and commercial companies as well as to project developers and investors that enable the financing of new renewable energy plants. As one of the most important players in the European energy market, Statkraft trades energy and renewable energy certificates in Finland.
Gazum will provide annual certified renewable electricity until 2034 from an unsubsidized wind farm, which is expected to be operational by the end of 2023 or early 2024.
Gasum is a Finnish state-owned facility and is already a major player in the wind energy sector; Its power purchase agreement with Umicore (which is partially underwritten by Jervois), increases its market share even more. Besides wind energy, Gasum’s energy portfolio includes hydropower, solar energy and bioenergy. The company also provides biogas and natural gas to industry, shipping and land transportation.
On behalf of Jervois Global Limited,
Bryce Crocker, CEO
For more information, please contact:
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Investors and Analysts: James May |
The media: Nathan Ryan |
forward-looking statements
This news release may contain certain “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this press release, the words “expect,” “believe,” “estimate,” “expect,” “goal,” “plan,” “expect,” “may,” “schedule,” “expect,” and other Similar words identify words or expressions of forward-looking statements or information. Such statements or forward-looking information may relate to the future purchase of renewable electricity, carbon dioxide reduction2 eq Emissions in Finland operations, start date of generation by Statkraft and Gasum and some other factors or information. These statements represent Jervois’ current views regarding future events and are necessarily based on a number of assumptions and estimates which, although considered reasonable by Jervois, are inherently subject to significant business, economic, competitive, political and social risks, contingency and uncertainties. Many factors, known and unknown, could cause results, performance or achievements to differ materially from the results, performance or achievements expressed or implied by these forward-looking statements. Jervois neither intends nor assumes any obligation to update such statements or forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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Originally published at San Jose News Bulletin
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