Uranium Miner Virginia Energy May Install 1000 Acres Solar Project in Coles Hill, Virginia

Highlights :

  • Virginia Energy says that if the solar project comes up, it would generate low carbon energy for the local community and also future uranium processing facilities.
  • It says that the project aligns well the company’s ESG and net-zero carbon ambitions.

Uranium development and exploration company Virginia Energy Resources has signed an option agreement with a solar development company to evaluate the feasibility of a solar energy generation facility on 1,000 acres land owned by it at Coles Hill, Virginia, United States of America. If the solar project comes up, it would generate low carbon energy for the local community in Pittsylvania County and the Commonwealth of Virginia. The Canada based uranium company has said that the project will provide both temporary and permanent jobs to the local community. 1000 acres cold potentially host upto a 225 MW solar power plant.

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Virginia Energy says that the solar project is a responsible step taken toward the development of the Coles Hill uranium project. The onsite source of low carbon power can also help future processing facilities. It says that the solar project will also provide future cash flow contributions for sustaining general and administrative costs of the company.

Virginia Energy states that the project aligns well its ESG and net-zero carbon ambitions and if developed, the Coles Hill uranium project will provide energy dense uranium for the nuclear energy industry.

Walter Coles, President & CEO, Virginia Energy Resources, said, “If determined to be feasible, this solar project will generate low carbon energy for the local community, Pittsylvania County, and the Commonwealth of Virginia. Construction of the project would utilize services of local businesses and  provide jobs to the local community. This solar project further demonstrates the commitment of Virginia Energy to enhancing the community in which we operate and our long term commitment to the local economy. It could be an important infrastructure step for Coles Hill and if developed would provide meaningful cash flow to the company.”

Coles also added, “Domestic energy security is a critical issue for governments around the world. A recent and unfortunate reminder is the reliance on energy inputs from Russia, as shown in the conflict with Ukraine. These recent events definitively establish the need for self-reliance: a complete energy supply chain entirely within our borders. The Coles Hill project is uniquely positioned to provide a longer term supply of locally sourced uranium to support our own domestic fleet of power reactors.”

Virginia Energy has a subsidiary called Virginia Uranium that has absolute interest in the Coles Hill uranium development project in the southern state of the US that includes – mineral rights, surface rights, leasehold developments and operating rights.

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