Communication - Presse

Syrah approves Balama solar and battery system final investment decision

Syrah Resources Limited (ASX: SYR) (“Syrah” or “Company”) is pleased to announce its Board has approved a final investment decision (“FID”)for the installation of a solar and battery hybrid power system(“Solar Battery System”)at its Balama Graphite Operation in Mozambique(“Balama”), taking advantage of the high solar irradiation potential of the site location.

Following execution o fa memorandum of understanding with Solar Century Africa Limited (“Solar century Africa”) in December 2020, Syrah and Solar Century Africa completed the design, detailed engineering and procurement of, and structured and arranged the funding for the Solar Battery System. The Company selected a 11.25MWp solar photovoltaic(“PV”) installation combined with an 8.5MW/MWh battery energy storage system to be integrated with Balama’s existing diesel power generation plant. Extensive due diligence was undertaken on equipment selection and suppliers of the solar PV modules, battery energy storage technology and hybrid control system. Funding for the project is being provided by Cross Boundary Energy (“CBE”).

The Solar Battery System will be delivered under a build-own-operate-transfer (“BOOT”) arrangement, comprising a  10-year operating lease and an operating and maintenance contract with a Mozambique incorporated project company to be wholly owned by CBE. This project company will construct, own and operate the Solar Battery System over the BOOT term. Operations and ownership of the Solar Battery System will be transferred to Syrah at nil cost at the end of the 10-year BOOT term. Solar century Africa will continue to work closely with Syrah and CBE during the construction, delivery and installation of the Solar Battery System and up to commercial operation. Syrah and Solarcentury Africa have obtained all required licenses to commence construction of the Solar Battery System. The Solar Battery System is scheduled to be commissioned and operating before the end of the March 2023 quarter.

On  average, the Solar Battery System will supply approximately 35% of Balama’s site power requirements, yielding an approximately35% reduction in diesel consumed for power generation. During peak daylight times, the Solar Battery System will be able to supply up to 100% of Balama’s power requirements. Presently, Balama is solely powered by a 15MW on-site diesel generation power plant, which is 100% Syrah owned and operated, originally selected as a low-risk power option for the Balama development. Grid electricity is not currently available for Balama’s power requirements due to  the lack of proximate high voltage transmission infrastructure.

Syrah Managing Director and CEO Shaun Verner said, “The installation of a large-scale solar and battery hybrid power system is expected to reduce operating costs at Balama and further strengthens the ESG credentials of Balama’s natural graphite products. This project represents an initial step in reducing the Global Warming Potential (“GWP”) of Balama and the Vidalia active anode material facility in Louisiana, USA.

” The Solar Battery System is forecast to derive C1 cost savings of ~US$8per tonne at a 15kt per month production rate2, which is incorporated in Balama C1 cash cost (FOB Nacala) guidance ofUS$430–470 per tonne at a 15kt per month production rate. The project is forecast to generate an attractive return on capital due to the low upfront capital costs, fixed costs payable by Syrah under the 10-year BOOT arrangement and the significant cost savings from reduced diesel consumption.

The Solar Battery System will reduce the Global Warming Potential, or product carbon equivalent emissions, of Balama natural graphite products. Syrah’s independent lifecycle assessment estimated that the Solar Battery System would reduce the GWP of producing natural graphite from Balama mine and transporting it to Nacala port from 0.48kg to 0.42kg CO2equivalent per 1kg natural graphite3, representing a 12.5%reduction.The Solar Battery System is estimated to reduce Balama’s GWPby18kt CO2equivalent per annum, on average, over the life of the operation.



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