- Appian Capital Advisory LLP (Appian) has announced that it will acquire the majority shareholding in Rosh Pinah Solar Park (RPSP) from Emesco Energy which provides power to the Rosh Pinah Zinc Corporation mine in Namibia.
- The solar plant will reduce Rosh Pinah Zinc’s cost of energy by 8% for the next 15 year and cover 30% of the mine expansion project’s energy requirements.
As part of the agreement, Appian plans to increase the solar plant’s output from 5.4 MWp to 16.3 MWp, providing 30% of the energy supply required for Rosh Pinah Zinc’s expansion project. The solar project will supply clean energy to the mine through a fixed nominal rate 15-yr offtake agreement, reducing its cost of energy by 8%. RP2.0 will deliver an increase in Rosh Pinah Zinc’s ore production from 0.7 million t to 1.3 million t of ore per annum and is now more than 60% completed.
The investment in RPSP provides attractive risk-adjusted returns and tangible savings for the mine and Appian. The transaction is part of Appian’s clean energy strategy, supporting the business’ ambitions to decarbonise its portfolio.
Increasing the capacity of the solar plant to 16.3 MWp will help to optimise the value of the asset. Emesco Energy will continue to operate the solar plant and develop the expansion.
Author: Bryan Groenendaal
