(Ecofin Agency) – To support the energy transition in South Africa, many companies are increasingly relying on the use of renewable energies. This is the case of gold producer Harmony Gold.
The mining company Harmony Gold has obtained 10.2 billion rand ($653 million) from the Mahlako Energy Fund to build 167 MW of photovoltaic solar power plants in South Africa.
More specifically, during the 1time phase, three 10 MW power plants will be built, then the second phase will take into account the installation of the remaining 137 MW. This will allow the company to supply its various mines with cleaner energy and extend their lifespan. In addition, this project is part of Harmony’s strategy, the objective of which is to achieve zero carbon emissions by 2045.
Separately, the gold producer expects Phase 2 of its energy project to deliver electricity cost savings of more than 500 million rand ($32 million) per year once it is completed. will have reached full production in 2025.
The construction phase should begin in June 2022 and the first megawatts should be delivered to the network in March 2023. The whole of the installations should produce 1.3 TWh of energy over a period of 20 years, which will make these among the largest photovoltaic solar power plants in South Africa.
Note that Harmony Gold operates a dozen gold operations in South Africa. It produced 1.54 million ounces in fiscal year 2021, compared to 1.22 million in 2020.
Lorianne Biaou
