Atalaya Mining begins permitting process for solar plant

Atalaya Mining has started the permitting process to develop a 50MW solar plant at its Proyecto Riotinto, it announced on Thursday, with the full capacity of the solar project to be used for self-consumption.

The AIM-traded firm said Proyecto Riotinto is located in an area with a “natural abundance” of sunlight, making it conducive to solar power generation.

Technical studies carried out by a third party in recent months indicated that, in addition to making a significant contribution to reduce carbon emissions, the solar project was economically viable and could potentially contribute to reducing Proyecto Riotinto's operating costs.

The decision to pursue the solar project was in line with Atalaya's ongoing commitment to environmental sustainability, the board noted.

During the permitting period, it said it would evaluate the various financing options that were being proposed by industry players in Spain.

Subject to completing the permitting process and securing financing, construction was expected to begin by mid-2021.

“We are pleased to be committing to this solar initiative which will be one of the largest projects of renewable self-consumption in the industry,” said chief executive officer Alberto Lavandeira.

“This is only a first step in achieving our long-term sustainability goals, but one that will have a positive and near term impact on Proyecto Riotinto.”

At 1618 BST, shares in Atalaya Mining were up 2.07% at 172.5p.