A gold mining company has concluded its first power purchase agreement and reached financial close for an 89MW wind energy project in the Northern Cape province of South Africa. The project is expected to be the largest private wind farm constructed in South Africa to date and is anticipated to commence construction in June 2023. With rising electricity tariffs posing a looming threat to the country, the cost of electricity is persuading mines to investigate renewable energy sources. This is especially true as turning to renewable energy sources has increasingly become a financially viable and attractive solution. Sechaba Selemela, Investment Principal at AIIM, noted that “the transaction was another step towards greater reliance on renewable energy and solving South Africa’s energy crisis”.

Source: The North Africa Journal May 30, 2023 11:26 UTC