Hydro-Quebec intends to review its commercial strategy for mining
More than 70 applications for the deployment of mining centers in the province of Quebec went to the largest Canadian energy company Hydro-Quebec, after which the company’s management had to announce its intention to review its commercial strategy regarding mining issues.
“We process dozens of applications daily. We did not expect such an influx of miners. This forces us to make changes to the original commercial strategy. One thing is clear – we can not serve all these projects. Everything happens very quickly and unexpectedly, therefore we should behave prudently, “commented Mark-Antoine Poullier, a representative of Hydro-Quebec.
Quebec has become attractive to miners’ organizations from around the world by the fact that almost half of Canada’s water resources are concentrated here, which led to the construction of a huge number of hydroelectric power stations in the province. In addition, Canadian harsh winters perfectly solve the issue of cooling equipment, which turns Quebec into a “tidbit” for miners.
According to Mark-Antoine Poullier, the majority of applications come from China, where the government in every possible way restrains the production of crypto-currency. Miners from this country leave their homeland under government pressure.
As reported in Hydro-Quebec, the province has an excess energy potential of 100 terawatt-hours for the next 10 years. It is worth noting that 1 terawatt-hour is capable of providing electricity to about 60,000 homes throughout the year.
Also at this time in Quebec, there is another problem – the lack of equipped areas. Entrepreneurs are forced to divide projects into separate parts and place them in different buildings.
“And this is only the tip of the iceberg because for today only a tiny fraction of all comers sent us applications,” said Marc-Antoine Poullier.