With just under 1000 MW of installed capacity, according to the Energy and Mines Global Rankings, renewables for mines is now firmly established as a critical market segment for the global renewable energy industry. Industry experts predict continued growth for this sector as mines face increasing carbon exposure and energy cost pressures.
“We are seeing a ‘perfect storm’ brewing around renewables,” comments Russell Blades, Director of Energy and Climate Change for Barrick Gold. “Solar and energy storage are improving in efficiencies and reducing in costs. Renewables are already cost-effective in many areas compared to traditional fossil fuel power options.”
“More and more miners are considering renewables as a way to meet sustainability targets and decrease their carbon footprints,” summarizes Sunil Kansal, Senior Manager at Deloitte, which specializes in energy and strategic advisory services to global mining clients.
As the Energy and Mines Global Rankings show, mines are indeed taking advantage of the improved economics of renewables. The study reports a significant 943 MW of installed capacity for renewables powering mines around the world. This breaks down to 352 MW of solar PV; 39 MW of solar thermal and 552 MW of wind.
For more on the results from the first-ever global rankings of renewables investment by mines, download the full article below.
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