Polyus is an icon to reckon with in Russia since it is the country’s largest gold mining company. The firm plans to collaborate with RusHydro, a hydroelectricity supplier. This collaboration would see hydropower contributing to up to 90% of the firm’s energy demand. The electricity supplier will be the Sayano-Shushenskaya hydropower plant, whereas it goes without saying that the buyer will be Polyus but precisely its operational unit based in Krasnoyarsk. The end of the agreement is the end of this year on Dec 31, 2021, to be precise. However, if the need arises, there is room for an extension.
On top of the list of the company’s most significant producing assets are Blagodatnoye and Olimpiada. The two will be using hydropower exclusively once Sayano- Shushenskaya hydro plant starts supplying energy as per the agreement. Consequently, the Krasnoyarsk business unit’s greenhouse gas emissions will reduce by approximately half before the end of the year. That would see the total emissions by Polyus reduce by a third compared with the data of 2020.
It is important to note that this project brings the company a step closer to achieving a fully renewable energy transition. As a matter of fact, it will be so close to the extent that two of its vast producing facilities will be using 100% renewable energy. As far as the company at large is concerned, up to 90% of its energy consumption will be facilitated by renewable energy sources. That’s worth appreciation since it is way too close to the goal, making it look more achievable than ever before.
Equally important, RusHydro and Polyus got into a bilateral agreement. The five-year-long contract would revolve around selling and buying energy from hydroelectric power plants. To be precise, the electricity would come from the Magadan region, precisely the area of the electric power system that is technologically isolated. The agreement would see more than 300 million kilowatt-hours of electricity supplied annually.
According to Pavel Grachev, the CEO of PJSC Polyus, the collaboration clearly indicates the company’s determination to transition to renewable energy sources. He also added that it is a milestone that makes history in the firm. Pavel Grachev acknowledged that climate change is a challenge regardless of which part of the world you live in, no doubt. Therefore, since Polyus is a responsible business, it has decided to assist in decarbonization. It has settled for measures such as shifting to renewable energy sources. Consequently, its greenhouse gas emissions will decrease, which is excellent for the environment.