Mayur Resources Ltd says it has formed an ongoing relationship with the State negotiation team to discuss and finalize a power purchase agreement (PPA) for its planned power plant in Lae, Morobe.
The organization was waiting for the State negotiation team's makeup to be finalized and signed off, according to managing director Paul Mulder.
After that, he said, the Enviro Energy Park (EEP) project's final discussions and negotiations will begin.
Mayur's planned 52.5-megawatt EEP project is an advanced power plant that will produce more efficient and cheaper electricity than current solutions by combining conventional thermal energy (sourced from the company's wholly-owned Depot Creek project), solar, and biomass woodchip, while also supplying co-generated steam to nearby industrial users who were burning diesel for their steam needs.
The EEP, which is near Lae, will also have steam as a by-product for local industrial uses, and potential dual fuel systems will allow for the use of diesel.
“The energy park would balance the need for new environmentally friendly technologies and reliable energy,” Mulder said.
