Sibanye-Stillwater secures 140MW wind energy project

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31-05-2024
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Bizcommunity.com
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Sibanye-Stillwater has concluded a power purchase agreement (PPA) and financial close for the 140MW Umsinde Emoyeni Wind Farm.

Located on the border of the Northern and Western Cape, the wind farm will supply renewable energy to the miner’s local operations.

Umsinde Emoyeni Wind Farm construction will begin this year, with commercial operations expected to begin in Q4 2026.

The project will be fully funded by a consortium led by African Clean Energy Developments (ACED) and Energy Infrastructure Management Services (EIMS Africa), both of which are platforms under African Infrastructure Investment Managers (AIIM).

Reatile Renewables is also a shareholder in the consortium.

This latest addition to its portfolio brings the total capacity of renewable energy projects under construction for the company's exclusive use to 407MW.

Sibanye-Stillwater as now positioned as a leader in private energy procurement in South Africa, securing 70% of its long-term energy needs in the country.

The total installed 407MW of renewable capacity is expected to reduce Sibanye-Stillwater's Scope 2 emissions by 24%, or approximately 1,450,000 tonnes of CO2e per year, from 2027.

Contributes to national goals

These projects will also contribute to alleviating the electricity crisis, while promoting socio-economic development in local communities and meeting the requirements of the South African Mining Charter.

“Financial close of the Umsinde Emoyeni wind farm marks another critical step in our journey to carbon neutrality by 2040,” explained Neal Froneman, CEO of Sibanye-Stillwater.

“The renewable energy secured through our four PPAs will enable a stepped reduction in our carbon footprint, aiming to contribute not only to mitigate the effects of climate change, but also enhancing the sustainability and shared value creation of our SA operations through favourable pricing relative to current supply. We continue to develop and execute energy solutions that contribute to the delivery of our strategy."

Sibanye-Stillwater is pursuing an ultimate goal of 600MW renewable energy project portfolio as part of its ongoing journey towards carbon neutrality.