- 138 MW renewable energy PPA signed with NOA under 10 year wheeling agreement.
- Portfolio grows to 765 MW, positioning Sibanye Stillwater as SA mining’s largest private renewable off taker.
- Projected annual savings of over R1bn and 41% reduction in Group emissions from 2028.
Sibanye Stillwater has concluded a 138 MW renewable energy power purchase agreement with NOA, further strengthening its leadership in South Africa’s private renewable energy market.
The agreement increases Sibanye Stillwater’s contracted renewable energy capacity to approximately 765 MW, reinforcing its position as the largest contracted private renewable energy off taker in the South African mining sector. The transaction marks another significant milestone in the Group’s strategy to secure long term sustainable energy supply while advancing decarbonisation objectives.
Under the 10 year agreement, NOA will supply 138 MW per annum of renewable energy to Sibanye Stillwater’s South African operations. The energy will be sourced from an aggregated portfolio of solar and wind generation facilities and delivered via a national wheeling framework through the Eskom grid. The structure includes flexible supply terms, supplemented by short term take and pay arrangements to accommodate potential variability in the Group’s future electricity demand.
From 2028, the additional supply is expected to reduce Sibanye Stillwater’s greenhouse gas emissions by approximately 433080 tCO2e per annum. The broader 765 MW renewable energy portfolio, secured through off balance sheet financing with independent power producers and third party partners, is projected to avoid approximately 2.63 million tCO2e annually from 2028. This equates to a 41% reduction compared to 2024 emissions levels.
By 2028, around 56% of total energy demand from the Group’s South African operations is expected to be met through renewable sources. Importantly, the annual renewable energy cost is forecast to be on average 20% to 30% lower than projected Eskom wholesale tariffs, translating into savings of more than R1bn per annum from 2028.
Author: Bryan Groenendaal
