- Anglo American Platinum, through its wholly owned subsidiary, Rustenburg Platinum Mines Limited (“RPM”), has entered into a 20-year Energy Offtake Agreement (“EOA”) with Envusa Energy Proprietary Limited (“Envusa Energy”).
Envusa Energy is a joint venture between EDF Renewables and Anglo American plc to develop a regional renewable energy ecosystem in Southern Africa. Envusa Energy will operate as an energy trader sourcing energy generated from renewable sources (from separate generation plants, in which Envusa Energy will hold a majority shareholding) through power purchase agreements and then sell this energy to offtakers.
Under the EOA, Envusa Energy will supply RPM with ~460 MW of renewable energy generated through its Koruson 2 solar and wind projects, via the Eskom electricity grid.
The Koruson 2 (K2) projects are among the first wave of projects to close under the Envusa Energy joint venture. The project comprises the Umsobomvu Wind Project (140MW), Hartebeesthoek Wind Project (140MW), Mooi Plaats PV Project (240MW), located in the “Koruson” cluster in the Hydra supply area on the Eastern Cape/Northern Cape border. All of the projects will connect to the new Koruson 400kV Main Transmission Substation (MTS), being built as part of EDF Renewable’s Koruson 1 project cluster.
The construction on the Koruson 2 projects will now begin, with all the projects planned to reach commercial operation during 2026. Each Koruson 2 project will be constructed, owned and operated by Envusa Energy subsidiaries which will be funded by a combination of Envusa Energy’s shareholders and a consortium of external lenders. Considering the Koruson 2 projects will be majority project financed, RPM will enter into ancillary agreements with the consortium of lenders, as is market practice in project finance transactions.
Craig Miller, CEO of Anglo American Platinum, said: “The conclusion of the EOA with Envusa Energy to secure clean energy for our operations is a significant milestone in our journey towards our decarbonisation commitments, ensuring that our PGM metals, which are themselves critical to enabling the just energy transition, are produced in a safe and sustainable manner, supporting our ESG leadership priority. In addition, the generation of energy from these wind and solar projects will provide further resilience to Eskom’s national electricity provision and reduce our electricity costs.”
Author: Bryan Groenendaal
