SYDNEY, AUSTRALIA: Montem Resources Limited (ASX: MR1) has entered a Memorandum of Understanding (MOU) with Invest Alberta, efficient March 23, 2022, outlining the roles and responsibilities every will undertake in working collectively to set up Montem’s proposed Tent Mountain Renewable Energy Complex (TM-REX).
The TM-REX represents a transformational clear energy project with an estimated project lifetime of at least 50 years. Montem is investigating changing the historic Tent Mountain Coal Mine right into a renewable energy complex, located inside the Crowsnest Pass of southwest Alberta, Canada.
The deliberate development includes three primary elements; a 320MW pumped hydro energy storage (“PHES”), 100MW inexperienced hydrogen electrolyser and a 100MW offsite wind farm.
Montem Managing Director and CEO Peter Doyle said: “This innovative project has the potential to be a paradigm shift for inexperienced energy in Alberta. The TM-REX will see the conversion of a coal mine right into a renewable energy complex, with the ability to host Canada’s first large-scale inexperienced hydrogen electrolyser manufacturing facility,”
“Tent Mountain’s ideal topography and location provides the chance to develop an excellent renewable energy asset that will present improved stability to Alberta’s electrical energy transmission system because the Province looks to additional diversify its energy grid to reliable, affordable and renewable energy sources.”
Invest Alberta CEO Rick Christiaanse said: “Alberta’s reputation as a dependable and sustainable global energy supplier is making the province a vacation spot of choice for inexperienced energy investment.
We have seen a variety of cleantech investments in Alberta recently, and it’s encouraging to see investors focused on harnessing Alberta’s historic past of innovation to construct a cleaner, extra sustainable future.”
TM-REX will spur financial growth and high-quality job creation inside the clear energy and cleantech sectors in Alberta, with the creation of greater than 200 native jobs. This partnership will allow Montem to extend its funding in Alberta’s workforce and produce a world-class clear energy project.
It will elevate Alberta’s standing as a global clear energy hub because it contributes to the diversification of Alberta’s economy by creating high-quality sustainable employment opportunities, and develop the enterprise environment, workforce and infrastructure required for the clear energy and cleantech sectors to prosper in Alberta.
As global demand for inexperienced energy options persists, Invest Alberta’s partnership with Montem will support the potential transition of the Tent Mountain Mine, which represents a transformational alternative for Alberta’s energy sector.
www.tentmountain-rex.com