5B customer: Nomadic Energy
End user: Northern Star
Off-grid gold mine
Due to their remote locations, many mine sites in Australia rely heavily on power purchase agreements (PPAs) from leased diesel or gas generators that are becoming more expensive and exposed to fuel price volatility.
These sites need predictable and sustainable energy pricing. Mine lives' are short so site managers generally can't commit to PPAs from traditional renewable sources, which typically need 10+ years to make financial sense.
Carosue Dam's remote location made installing renewable energy using traditional methods complex and costly.
In partnership with Nomadic Energy, 5B developed a five year solar lease, similar to a traditional equipment lease, which has reduced the per unit cost of electricity for its client, Northern Star Resources, by 40%.
Nomadic Energy leases the 5B Maverick arrays and associated equipment, manages the system’s integration and operational performance, and sells the energy generated to Northern Star Resources with attractive options to extend further into the solar asset’s 20+ year design life.
Once the term expires, Nomadic Energy has two options; to either extend the system PPA with Northern Star Resources or redeploy the solar farm on another customer’s site.
The mine can now benefit from a low, reliable cost of electricity, without being locked into a contract duration that would significantly exceed similar arrangements with their incumbent diesel/gas IPP.
This unprecedented flexible leasing arrangement is a game changer for Australia’s mining sector.
“5B’s Maverick technology provides an exciting and unique option in delivering our core product of short-term solar PPAs designed specifically for mining companies operating in remote environments.”
- Simon James, director and co-founder, Nomadic Energy
Benefits of 5B Maverick in Carosue Dam Phase I project
Asset owners have the option to relocate or remove systems if customers need to switch to another site or cease operations. Renew the lease or relocate and lease the solution to a new customer.
Shipping to remote sites is simple, quick and low-risk because everything is prefabricated in our manufacturing partner’s factory, packed into trucks, and ready to roll out onsite.
Rapid deployment, resource efficiency
1MWp in 1 week with only a team of three people. Not only does this mean less labour and skilled labour on site, but reduced time on site by 90% compared to traditional solar technologies.