Solidcore Resources plc: Green Energy Project Approval

Solidcore Resources plc (“Solidcore” or the “Company”$Polymetal International Plc(POLY.UK) ) is pleased to announce that the Board of Directors has approved the construction of green energy power plants at Varvara mine.

“Our path to net zero along with Kazakhstan’s decarbonisation efforts underpin Solidcore’s full transition to clean energy sources. Today the Board approved the construction of solar and gas power plants at Varvara, which will result in significant carbon footprint and energy cost reductions”, said Vitaly Nesis, Group CEO of Solidcore Resources plc.

The Company plans to invest approximately US$ 55 million in the construction of a 23 MW solar power plant and a 40 MW gas piston power plant at Varvara. The gas piston station aims to maintain a steady power supply by balancing uneven solar energy generation. The plants are expected to be launched in Q2 2026 and will almost fully replace third-party electricity from coal power stations, reducing dependence on external power sources and mitigating the impact of rising energy tariffs. 

Next year, the Board will be considering construction of a 17 MW solar power plant at Kyzyl. With its commissioning planned by the end of 2026, both of the Company’s mines will switch from purchased grid to self-generated clean energy, leading to a projected 27% reduction in the Company’s GHG emissions compared to 2023. 

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