Mayur Power completes DFS for Enviro Energy Park in Lae

COMPANY ANNOUNCEMENT 

Mayur Power completes DFS for Enviro Energy Park in Lae 

30 April 2016

Mayur Power Generation has completed a DFS for the Lae Enviro Energy Park (EEP) to be developed at the Lae Western Tidal basin. The site will be leased from PNG Ports and provides a strategic location for the new power generation facility in terms of delivery of fuel (via the port of Lae) and proximity to the grid and transmission infrastructure in Lae. The power station will be a 50MW facility equipped with clean emissions technology that will use clean (low ash, low sulphur) domestic coal as well as biomass and renewables (solar) for ancillary power. The DFS is based on the execution of the Power Purchase Agreement (PPA) that has been submitted to PNG Power. The EEP will deliver a new source of reliable, sustainable and affordable base load power for Lae. The wide range of benefits include commercial (some of the cheapest grid electricity to PNG Power), environmental (a material improvement on the current emissions levels from the reliance on diesel / fuel oil in Lae) and economic (providing direct and indirect employment opportunities in the Lae region, and unlocking the manufacturing potential of Morobe currently constrained by high cost / diesel supply).