Pursuant to the ASX announcement on 28 August, remote power generation specialist Zenith Energy Limited (ASX: ZEN) has announced that its wholly-owned subsidiary, Zenith Pacific Pty Ltd, has now executed the PPA to build, own and operate a 17MW gas-fired power station for Dacian Gold Limited’s (ASX: DCN) (‘Dacian’) wholly owned subsidiary Mt Morgans WA Mining Pty Ltd.
Under the terms of the PPA, Zenith will construct the power station to service the power needs of Dacian’s Mt Morgans Gold Project, located 20km west of Laverton, and approximately 750km northeast of Perth, in Western Australia.
The power station will utilise gas-fuelled generators, providing the Mt Morgans Project with cost effective and clean power generation into the future. The PPA will have a supply commencement date of 7 March 2018, and an initial eight-year term, with Mt Morgans WA Mining Pty Ltd having the option to extend for a further term of three years. The PPA should positively impact Zenith’s FY2018 earnings and will have a materially positive impact in FY2019 when the first full-year impact of the PPA is attributed to ZEN’s financial results.
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