Petra Diamonds Secures Long-Term Renewable Energy Deal with Etana Energy to Slash Emissions and Costs

Petra Diamonds has announced the signing of long-term Power Purchase Agreements (PPAs) with Etana Energy, a licensed South African energy trader, to procure wheeled renewable energy for its Cullinan and Finsch Diamond Mines. Starting from FY2026, these agreements will supply between 36-72% of each mine’s energy needs via the existing electrical grid.

This significant development aligns with Petra’s sustainability goals, allowing the company to reduce its scope 1 and 2 greenhouse gas (GHG) emissions by 35-40% by 2030, compared to its 2019 baseline, ahead of schedule. In addition to lowering Petra’s carbon footprint, the renewable energy sourced from Etana will contribute to predictable energy costs and is anticipated to generate sustainable cost savings over the term of the PPAs. Petra remains committed to achieving net-zero emissions for scope 1 and 2 by 2050, with an ambition to reach this goal by 2040.

Etana Energy, known for its cost-competitive clean energy solutions, will supply power from new large-scale renewable energy projects through wheeling over the South African grid. Etana’s portfolio includes multiple ready-to-build wind and solar projects expected to become operational between 2025 and 2026. The wind-heavy portfolio ensures a consistent renewable energy supply, enhancing cost savings and environmental benefits.