Business
Renewable Energy Partnership
Renewable Energy Partnership.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Renewable Energy Partnership\n \n \n\n \n Mercator Gold Plc\n \n \n\n \n MERCATOR GOLD plc (“Mercator Gold”, “Mercator” or “the \n Company”)\n \n \n AIM: MCR US OTC: MTGDY\n \n \n Renewable Energy Partnership\n \n \n London 15 June 2010\n \n \n Mercator Gold plc is pleased to announce that it has entered into a \n partnership with Remote Energy Solutions, LLC (“RES”), an established \n renewable energy developer, in relation to the Warm Springs solar power \n project (“the Warm Springs project”) in New Mexico, USA. The Warm \n Springs project is being developed in close proximity to the Copper Flat \n copper-gold-molybdenum-silver project (“Copper Flat”) by Mercator’s \n subsidiary Warm Springs Renewable Energy Corporation (“WSREC”).\n \n \n Highlights:\n \n \n - 20-80MW solar power project planned, with RES to coordinate planning, \n permitting and development\n \n \n - Permitting targeted for completion in 2010 and construction targeted \n to commence during 2011\n \n \n - Mercator to hold minimum 70% interest in WSREC; RES to hold initial \n 10% with right to acquire up to 30% by contributing to construction costs\n \n \n - New Mexico an optimal location for solar power development\n \n \n Warm Springs Solar Project\n \n \n The initial objective of the Warm Springs project is the construction of \n a 20MW solar power plant, with permitting targeted for completion by the \n end of 2010 and construction targeted to commence during 2011 subject to \n ongoing feasibility work. Feasibility and permitting is expected to cost \n up to US$750,000.\n \n \n The estimated construction cost of a 20MW facility is in the range of \n US$60-80 million. It is anticipated that this capital requirement will \n be met by means of project-level debt and equity financing. Numerous \n innovative potential financing mechanisms taking advantage of available \n development incentives and tax schemes have been identified and are \n being evaluated in order to select the most advantageous solution.\n \n \n Discussions have been initiated with a number of solar power plant \n constructors and technology providers. Both traditional flat plate \n photovoltaic and newer concentrating solar technologies are being \n evaluated.\n \n \n WSREC believes that there may be potential for the expansion of the \n initial 20MW facility to 80MW capacity.\...