Sibanye-Stillwater Signs 220 MW Renewable Energy PPA with Etana Energy

Sibanye-Stillwater has signed a 10-year flexible renewable energy power purchase agreement (PPA) with licensed energy trader Etana Energy, securing approximately 220 MW of clean electricity for its South African operations.

Under the agreement, Etana Energy will supply renewable power sourced from a diversified portfolio of solar and wind projects, further strengthening Sibanye-Stillwater’s position as the largest renewable energy offtaker in South Africa’s mining sector and the second-largest private renewable energy offtaker in the country.

The additional 220 MW raises the Group’s total renewable energy capacity under development from 407 MW at the end of 2025 to approximately 627 MW, surpassing its strategic target of 600 MW. The expanded renewable portfolio is expected to deliver long-term electricity cost savings of 20% to 30% per year compared with current Eskom tariffs, while supporting the company’s decarbonisation objectives.

The PPA was awarded following a competitive tender process, designed to secure flexible commercial terms aligned with the life-of-mine profiles and energy requirements of Sibanye-Stillwater’s South African operations. Electricity will be delivered through the national transmission network using a wheeling arrangement.

The agreement is expected to reduce annual greenhouse gas emissions by approximately 648,000 tonnes of CO₂ equivalent (tCO₂e). From 2028, Sibanye-Stillwater’s cumulative renewable energy portfolio is projected to generate 2.036 terawatt-hours (TWh) of clean electricity annually, resulting in a 2.198 million tonnes CO₂e reduction in Scope 2 emissions per year.

Commenting on the development, CEO Richard Stewart said, “Our agreement with Etana Energy adds a material 220 MW, equivalent to over 35% of our renewable energy target, and takes us significantly closer to our 2040 carbon-neutral goal. It not only reinforces our sustainability commitments but is also expected to provide a lower-cost energy supply for our South African operations.”