Mayur is developing a portfolio of opportunities that will enable the de-carbonisation of Mayur’s flagship projects and provide significant surplus green energy and nature based carbon credits to serve the massive demand for renewables and the race to net zero.
Three key focus areas.
Nature Based Carbon Offsets
Solar and battery storage
Mayur Renewables has been established to
Directly assist Mayur’s nation building projects in PNG by providing a pathway to net zero through the establishment of renewable energy and carbon offsets projects for its lime and cement project.
Align and enhance broader ESG commitments and respond to the needs of future downstream building materials customers.
Provide projects of sufficient scale to establish standalone carbon and renewables-based opportunities directly addressing the race to decarbonize and achieve net-zero targets by both governments and private industry.
Nature Based Carbon Offsets.
✓ 7 carbon credit projects targeted across PNG, covering 1.4 million hectares.
✓ 3 projects already granted totaling 800,000 hectares.
✓ Signing of a Heads of Agreement with the Papua New Guinea Forest Authority (PNGFA) and Landowner Consents.
✓ Signing of a Tripartite Agreement with relevant Landowner groups and PNGFA.
✓ Written support from respective Provincial Governors in PNG.
✓ Appointment of PNG’s leading carbon credit expert, Professor Chalapan Kaluwin, to Mayur Renewables Advisory Board.
Potential for Major Carbon Inventory and Revenue Generation.
Study completed by VECKTA confirmed >500MW of renewable solar potential within Mayur’s granted Special Economic Zone (SEZ) that covers an area of 52 km2. located next to the PNG LNG plant site.
Targeting provision of renewable solar power for:
- Mayur’s CCL Project (CCL) located within the Special Economic Zone (SEZ);
- Other potential new industry that could be established within the SEZ; and
- Existing industry adjacent to the SEZ i.e. LNG and other hydrocarbon industries
Mayur has signed a Memorandum of Understanding (MoU) with Australian-UK energy storage innovator Gelion Technologies for supply of zincbromide non-flow battery technology to PNG. The MoU is for the provision (subject to demand) of an initial 100- megawatt hours of energy storage for projects from 2022 to 2027. Mayur is to be Gelion’s sole distributor in PNG.