Pan African Resources has provided an update on its renewable energy developments, highlighting significant progress made in various projects. The company’s Barberton Mines’ Fairview solar facility, with an engineering, procurement, and construction (EPC) agreement in place with JUWI Renewable Energies, is set to construct an 8.75MWAC solar photovoltaic (PV) renewable energy facility. This project is expected to result in substantial cost savings and a reduction of approximately 22,000 tons of CO2 emissions annually.
Pan African has also entered into a Power Purchase Agreement (PPA) with Sturdee Energy for a 40MW wheeled renewable energy solution. The PPA allows the company to access renewable energy generation capacity for any of its operations. Additionally, the company is progressing with feasibility studies for expanding the Evander Mines’ solar PV facility and developing a solar PV facility for the Mogale Tailings Retreatment Plant.
Upon successful implementation of these projects, Pan African estimates that it will generate around 28% of its power requirements through renewable energy, resulting in a cumulative reduction of approximately 137,000 tons of CO2 emissions annually. These initiatives are expected to deliver significant cost savings for the company while securing a stable energy supply.
The construction of the Fairview solar facility is nearing completion, with JUWI handling the early works phase. The project is financed through ring-fenced debt, similar to Pan African’s Evander solar facility. The company has received financing proposals from interested parties, with finalization expected by June 2023.
Furthermore, Pan African has secured a PPA with Sturdee Energy for the Bela-Bela Project’s 40MW wheeled renewable energy solution, with potential tariff savings if scaled up to its permitted 75MW capacity. Construction of the Bela solar PV facility is estimated to take place in 2025, funded by third-party financial institutions.
Pan African Resources aims to achieve its renewable energy strategy, which includes the construction of solar PV facilities, to reduce carbon emissions, stabilize electricity supply, and lower all-in sustaining costs per ounce of production.
Cobus Loots, CEO of Pan African Resources, emphasizes that these renewable energy initiatives are crucial for achieving the company’s sustainability targets while realizing cost savings and reducing carbon emissions.
