Vulcan Energy (ASX:VUL) has signed a supply contract with a consortium between Turboden and ROM Technik to construct a power plant at the Phase One Lionheart Project near Landau, Germany.
The consortium will be tasked with developing, procuring, and constructing a commercial geothermal power plant with a capacity to produce 275 gigawatt-hours of power, as well as 24,000 tonnes of lithium hydroxide.
The agreement is under a fixed turnkey basis valued at €110 million ($196.38 million), to be paid upon milestone completions.
Vulcan will use organic rankine cycle technology to produce renewable power from its geothermal brine, generated at its Geothermal and Lithium Extraction Plant (G-LEP).
As reported by Mining.com.au, the company recently secured a project deal with NORAM Electrolysis Systems for the technology required at its Central Lithium Plant within Lionheart.
CEO Cris Moreno describes this power plant as a “key component” of the phase one operation.
“Securing the services of both Turboden and ROM Technik, who are both leaders in their respective fields, will underpin the construction of the geothermal power plant, and we are fully confident in their ability to execute having delivered similar type projects in Germany and globally,” Moreno says.
“This is yet another milestone in our aim to deliver a local, low-cost source of sustainable lithium for the European battery supply chain, with a co-product of renewable energy production.”
Vulcan Energy is focused on building the first integrated sustainable lithium and renewable energy business to decarbonise battery production.
Write to Maddison Elliott at Mining.com.au
Images: Vulcan Energy
