A small mining explorer has set its sights on a 114MW solar farm it hopes to build next to the Worsley alumina refinery in Western Australia after raising $8 million in a capital raising.
Frontier Energy says the 114MW (DC) Bristol Springs solar project is the first of a number of renewable energy opportunities, including wind energy and in green hydrogen, that is is seeking to develop.
“The renewable energy industry offers significant growth opportunities, particularly to support nearby aluminium mining (sic) and the Collie and Kwinana industrial precincts, all of which require massive decarbonisation,” the company said in a statement.
(We suspect they meant alumina refining rather than aluminium mining).
“This is why we decided to transition from mining exploration and focus on clean energy opportunities.”
The company was formerly known as Superior Lake Resources, which sold its interest in a Canadian zinc project last year, and raised $8 million capital raising after agreeing to buy the Bristol Springs solar project. It will use the money to buy land and do planning for this and other projects (see table below).
Its prospectus suggests that “additional land acquisition opportunities are available to allow for an increase in solar power generation up to 490MW (dc)”, and it also flagged the potential addition of battery storage and wind energy at the site.
The energy giant Alinta is already planning a big battery on the other side of the refinery.
The transition from mining explorer to aspiring solar developer will make Frontier Energy the only listed company in Australia focusing entirely on Australian solar projects.
Another listed solar company, New Energy Solar, is now focused only on US solar farms, while a number of other listed renewable energy companies such as Windlab, Tilt, and Infigen have been taken private by other interests in recent years.
