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Highlights
- Liontown has awarded Zenith Energy a contract for power supply to the Kathleen Valley Lithium Project.
- The Hybrid Power Station is anticipated to have the largest off-grid renewable capacity of any mining project in Australia.
- Meanwhile, shares of Liontown were trading at AU$1.80 apiece, up 2.86% on ASX at 11.23 AM AEST.
Shares of Liontown Resources Limited (ASX:LTR), a base and precious metals exploration and development company, were trading higher in the early session on Tuesday. At 11.23 AM AEST, the shares of lithium producer Liontown were spotted trading at AU$1.80 apiece, up 2.86% on ASX.
This outperforms ASX 200 Materials index, which was 0.59% up at 16,325.20 points at 11.24 AM AEST. Liontown currently controls two major lithium deposits in Western Australia.
The overall Australian market was also up today. The ASX 200 Index was 0.54% up at 7,002.00 points today at 11.25 AM AEST.
Liontown shares have been trading on a higher side since yesterday after company made an announcement. In the last five trading sessions, the company's shares have grown 4.62%, and it provided returns of 1.69% in the last month (as of 11.25 AM on 13 September). Liontown's share price has increased by 3.43% on a YTD basis.
Liontown Resources awards a contract to Zenith Energy
A letter of award (LOA) was signed by Liontown and Zenith Energy Pty Ltd for the supply of electricity to the Kathleen Valley Lithium Project (Kathleen Valley) in Western Australia, according to a statement released on Monday (12 September).
A competitive tendering process and agreement on essential commercial terms are followed by the LOA.
Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 12 September 2022
As per the deal, a 95MW hybrid power station at Kathleen Valley (the "Hybrid Power Station") will be financed, designed, built, owned, operated, and maintained by Australian independent power producer Zenith Energy for an initial period of 15 years beginning with the Hybrid Power Station's anticipated commercial operation in H1 2024, which is also anticipated to coincide with process plant commissioning.
The Hybrid Power Station is now anticipated to have the largest off-grid renewable capacity of any mining project in Australia (46MW (wind and solar) plus 17MW BESS) after it is fully finished.
Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 12 September 2022
Five 6MW wind turbines will be used in the hybrid power station to generate wind energy. A 16MWp fixed axis solar PV array that is coupled to a 17MW / 19MWh Battery Energy Storage System (BESS), which will be supported by exceptionally dependable synchronous condensers that are essential for system stability and resilience, will offer additional clean energy.
Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 12 September 2022
Zenith Energy’s business
One of Australia's top independent power producers, Zenith Energy specialises in custom off-the-grid hybrid power generation. Zenith offers clients reliable and affordable power solutions with an installed capacity of more than 400MW and a portfolio that includes all Western Australia and the Northern Territory. Zenith offers limitless power solutions by fusing cutting-edge technology with a wide array of low-emission thermal and renewable energy sources.
