Ok, so I won't leave out the latter part and I'll address your post above to give the complete picture.
A bit of background on the solar. LPI made this statement more than 6 months before the release of their DFS and still now there is no contracts related to solar despite their 'effort'. The way in LPI achieve this, is by buying a contract which allocates solar energy to LPI through the national grid. It still comes from the grid and doesn't increase or add any renewable power for the country.
Now, the plant you mentioned above has a lot of great perks, reducing evap pond space, reducing time, etc etc. You may ask yourself why Galan is not using the same widely used technology?
Long ago, before the first DFS from LPI, they were advised it was the best solution to include this plant as standard evaporation techniques that Galan is able to use is not technically practical with LPI's brine.
LPI's brine can't reach 3-4% lithium chloride concentration, whereas Galan easily reaches 6%.
The higher the concentration, the higher accumulation of borates, the more reagents, the more time, the more lithium losses and the more unsuitable it becomes as feedstock for the lithium carbonate plant.
This is why Galan trumps most other brine projects even those with higher grade due its low level of impurities.
Referring to the screenshot you posted above it shortens the time from 6-12 months. As another poster pointed out Galan's evaporation time is also short. But it will achieve 6% lithium rather than LPI's target of 0.9%.
Galan achieves this without the $110m USD capex for a salt removal plant, and without the consumption of 1.5 million litres of diesel per month that it will use. (taken from the study).
On an ESG basis LPI still hasn't published it's carbon footprint metrics and ESG proposals that they said the would. They were due October 2021. Delloite who they hired to verify their ESG credentials hasn't said boo since they were appointed over a year ago.
I'll leave it up to you to decide who is in a better position moving forward.
Just to add a comment on the FTA with USA and the IRA benefits.
The FTA agreements exist between USA and about 20 other countries. However, only 5 of these hold lithium reserves. I believe Argentina are working on a way that they can be included in some way or another. Same goes for indonesia who produce a lot of nickel but are not included.
https://www.bnnbloomberg.ca/argentina-is-pressing-us-for-exception-to-tap-ev-tax-bonanza-1.1854259Although they are not included there are definitely ways around this. Take Livent for example, a brine producer in Argentina. They are expanding their hydroxide plant in the US to take advantage.
"Livent's leading footprint in North America positions the company to take advantage of long-term growth opportunities and downstream incentives from the recently enacted Inflation Reduction Act (IRA), which encourages use of lithium produced or processed in North America. The expansion in Bessemer City will boost the site's lithium hydroxide manufacturing capacity by 50%, helping meet the growing demand for EV battery materials produced in the United States."
https://ir.livent.com/news/news-details/2022/Livent-Completes-North-Carolina-Expansion-of-Largest-Lithium-Hydroxide-Production-Site-in-the-United-States/default.aspxIt doesn't have to be manufactured in USA either. Galan's brine can be manufactured into hydroxide at any country that has a FTA. So our brine can be sent to many parts of the world and still receive the tax benefits the IRA will give.
I expect once this project is fully permitted, Galan is going to have a much easier time financing this project than LPI and at a much lower capex. Once permitting is complete we will see a big gap between both companies. Galan will rerate as it will be derisked. Galan will look very attractive to investors given it's low cost, huge resource and it's ability to further expand operations in the future.
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