Canadian uranium developer mulls solar project on 1,000-acre site in Virginia

An unnamed company will undertake a feasibility study in relation to the potential development of a solar power generating facility on about 1,000 acres (404.7 ha) of land in the US, owned by uranium development and exploration firm Virginia Energy Resources Inc (CVE:VUI).

The Canada-based uranium company said in a press release it has entered into an option agreement with the solar developer to evaluate the feasibility of the plan in Pittsylvania County, where Virginia Energy Resources has a 100% controlling interest in the advanced stage Coles Hill uranium project.

The firm pointed out that a solar park there could provide it with an onsite source of low carbon power that could be used for future processing facilities at Coles Hill. It would also provide low-cost electricity to the local area and future cash flow contributions to the company.

"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,” commented Walter Coles, president and CEO of Virginia Energy Resources.

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