DEASE LAKE, British Columbia, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Tahltan Nation Development Corporation (TNDC), the business arm of the Tahltan Nation, and Solvest, a leading provider of renewable energy solutions, are pleased to announce their strategic partnership aimed at advancing sustainable and clean energy initiatives in Tahltan Territory. Further, TNDC and Solvest are pleased to announce their first power project installation will be at the Schaft Creek Copper-Gold-Molybdenum-Silver Project located in NW British Columbia in Tahltan Territory which is owned by the Schaft Creek Joint Venture (SCJV) and operated by Teck Resources Limited (Teck) with a 75% interest and Copper Fox Metals Inc. with a 25% interest.
Under the partnership, TNDC and Solvest will work together to identify and develop renewable solar power solutions that reduce diesel consumption and carbon emissions, with the aim to achieve carbon neutrality in Tahltan Territory in the future.
TNDC will invest in and own redeployable long life solar power assets and lease them to mining companies under a short-term lease. This creates greater economic benefits for TNDC while removing the capital investment and lowering the cost of fuel and carbon emissions for mining companies – reducing risks for all parties.
The first power project installation is at the Schaft Creek copper-gold-molybdenum-silver project, which is managed through the SCJV by Teck who is the Operator of the SCJV. TNDC has entered into a 3-year leasing arrangement with Teck for the power equipment, where Teck has the option to buy-out the lease after 3-years, and where Solvest has co-invested with TNDC for 25% of the project.
The Schaft Creek project includes a remote seasonal 85-person camp currently powered by diesel generators. It is estimated this solar array and battery installation will achieve more than an 80% reduction in carbon emissions directly for camp power, resulting in a significant cost savings for the SCJV over the next 3 years and beyond. Additional benefits include a significant reduction in camp noise compared to generators, lower cost of power, the ability to extend the life of the system and/or redeploy the power system, and additional reductions in fuel consumption related to the delivery of fuel and materials to the site.
“We are excited to collaborate with Solvest to accelerate our goal to develop and adopt clean energy technologies within Tahltan Territory. This partnership will leverage the collective expertise and resources of both organizations to develop and implement renewable solar power solutions that will benefit the Tahltan Nation and advance our vision of sustainable development. This partnership not only aligns with our commitment to environmental stewardship but also presents significant economic opportunities. We look forward to working together to create a cleaner and more prosperous future,” said Paul Gruner, CEO, TNDC.
“Solvest is excited to partner with TNDC to bring more accessible renewable power to mining companies and communities in Tahltan Territory and to assist TNDC in developing a portfolio of long-term renewable power assets with steady revenue streams. We have been impressed with TNDC’s proactive approach and commitment to making a positive impact in a short timeframe. Both TNDC and Teck worked collaboratively to create a win-win arrangement in a matter of a few months for mutual economic benefits – without the requirement for government grants. We look forward to replicating this success with TNDC at other mining projects,” said Ben Power, CEO & Co-founder, Solvest.
“Implementing solar and battery technology at the Schaft Creek Project will reduce both our greenhouse gas emissions and our reliance on diesel fuel. Through this partnership, Schaft Creek will work with a Tahltan company to implement this project while also building capacity with our community partners. Using battery storage with the solar panels means that we can obtain 24-hour power even in a remote location and learn more about the potential for this approach to reduce emissions at other sites,” said Jonathan Price, CEO, Teck.
ABOUT TNDC
Tahltan Nation Development Corporation (TNDC) – the business arm of the Tahltan Nation – is owned by its shareholders – Iskut Band, Tahltan Band and Tahltan Central Government. TNDC was founded in 1985 by visionary, progressive Tahltan leaders who wanted to ensure the Tahltan Nation benefit from the economic activities and development occurring within Tahltan Territory and to provide employment, training, and contracting opportunities to Tahltan members. From its roots in residential construction, TNDC’s services have expanded to heavy construction, earthworks, camp services, air support, aviation, forestry, transportation, and fibre-optic communications services. To learn more, visit www.tndc.ca
ABOUT SOLVEST
Solvest is the leading provider of renewable energy services in Northern and remote areas, leveraging the extensive expertise of its partners in resource development across northern Canada. Specializing in reducing reliance on costly diesel power generation through cutting-edge renewable energy technology, Solvest aims to empower individuals and communities, foster self-sufficiency, generate wealth, and promote environmental stewardship. Solvest’s services include solar and energy storage project development, design, procurement, construction, operations and maintenance and equipment leasing, including fostering collaborative partnerships with Indigenous partners and mining companies.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b37c9a08-fda0-4507-a858-b40eac390f66
