Harvest Minerals Ltd (AIM:HMI, OTC:HMIFF) has announced the completion of a solar facility that will meet 100% of the power requirements of the group’s Arapua fertiliser project in Brazil.
It estimates the new source of renewable energy will lower operating expenditure by 7% a year while mitigating electricity price rises that would detrimentally impact profit margins.
Installation took less than three months and "significantly advances company's strategy to make Arapua carbon-free" as well meeting a tranche of its environmental, social and governance (ESG) obligations.
Harvest chairman Brian McMaster said: "Our zero-carbon strategy takes a big step forward with the completion of the installation of our solar power facility.
“We will experience immediate impact on the reduction of our carbon footprint as well as in the bottom line with substantial and ongoing cost savings.
“In the year we qualified for the London Stock Exchange's Green Economy Mark, this achievement is another big statement to our commitment to ensuring our operations and products are as sustainable as possible."