Equinox Gold's FBDM and SLDM units located in the interior of Bahia have recently taken great strides in the use of renewable energy. 

With the help of Enel Brasil, one of the main players in the electricity sector, the plants now exclusively use renewable energy from the wind farms Cumaru I and Cumaru V, in Rio Grande do Sul. This initiative serves as a testament to Equinox Gold's dedication to reducing greenhouse gas emissions and achieving other sustainability goals.

Investment in renewable energy leaves mining company at the top of the market

By investing in wind energy, Equinox Gold consolidates its commitment to responsible mining practices and strengthens its position as an industry leader. This bold initiative is a game changer as it makes Equinox Gold the gold miner pioneer in investments in wind energy in Brazil, following in the footsteps of only one other company in the sector.

With the guaranteed supply of wind energy from Enel Brasil, Equinox Gold will realize environmental benefits, estimating up to a 70% reduction in industry fees and energy costs for the two facilities, in addition to saving approximately R$40 million per year.

The contract with Enel Brasil – administered by Enel Trading, Enel's trader in the free market – follows the self-production model. This business model equates consumers with self-producers of energy, allowing consumer companies to produce renewable energy, mainly from wind and solar energy. This reduces sectoral charges, in addition to other competitive advantages offered in a free energy market, such as price predictability and free negotiation of contractual conditions.

In addition, the model directly contributes to expanding the use of renewable energies in the energy matrix, reducing greenhouse gas emissions in the production process for energy consumers and publicly demonstrating measurable commitments related to the ESG agenda (environmental, social and governance).

Use of clean energy and the reduction of greenhouse gases

The company's overall goal is to reduce greenhouse gas emissions by 25% by 2030, taking further steps to mitigate the potentially negative impact of its operations on the climate, according to a climate action report released in early February.

To this end, it implemented a process for understanding its carbon footprint, identifying opportunities for improvement and taking concrete steps to establish a comprehensive climate action strategy. It also continues to evaluate new opportunities for contracting energy from sustainable sources for two other operations in Brazil, with supply expected to start in 2024. The objective is to further expand the environmental return of the program.

The mining industry invests in renewable energy with the aim of making the mining production process cleaner energy and sustainable, which contributes significantly to reducing the environmental impact. And wind energy is gaining more and more space. 

According to data released by the Global Wind Energy Council (GWEC) in 2022, Brazil will occupy the sixth position in the world ranking of wind power generation and will break the record for expanding the installed capacity of the system. According to the Brazilian Association of Wind Energy (ABEEólica), the country has an installed capacity of 21 GW of wind energy production and a wind potential of more than 500 GW. The largest producer in Brazil is the state of Rio Grande do Norte.