Tharisa signs MoU for 40 MWp solar photovoltaic project

Paphos, Cyprus – Total Eren and Chariot will develop, finance, construct, own, operate and maintain a solar photovoltaic (PV) project for the supply of electricity to the Tharisa Mine.

Tharisa, the platinum group metals and chrome co-producer, announces that it has signed a comprehensive Memorandum of Understanding (‘MoU’) with Total Eren, a leading international renewable energy Independent Power Producer (‘IPP’), and Chariot, the African focused transitional energy company.

The MoU, which is a precursor to the signing of a long-term Power Purchase Agreement (‘PPA’) for the supply of electricity on a take-or-pay basis, envisages the Partners develop, finance, construct, own, operate and maintain a solar photovoltaic project (‘PV project’) for power supply to the Tharisa Mine, located in South Africa.

Anticipated to initially provide 40-Megawatt peak (“MWp”), with demand expected to increase over the life of the Tharisa Mine, adequately covering Tharisa Mine’s current energy requirements.

On 29 September 2021, Tharisa outlined its commitment to reduce its carbon emissions by 30% by 2030 and become net carbon neutral by 2050. The reduction of the use of grid power by the Tharisa Mine will be accelerated through the implementation of this and other renewable energy projects.

Tebogo Matsimela, Head of ESG at Tharisa, commented: “Tharisa plays a significant part in the global energy transition movement, and we are committed to producing these key metals in a sustainable manner. The solar power solution provided by Total Eren is but one of several steps we are taking to ensure our flagship Tharisa Mine, which has a life of mine of over 50 years, has a reduced carbon footprint. Our goal is to reduce our carbon emissions by 30% by 2030 and ultimately become net carbon neutral by 2050.

Projects such as this solar development, are achievable with the commitment from our Company as well as the commitment from our partners in this venture. We challenge all our business partners to implement initiatives that will ensure that we will make our planet a better one for all, while providing sustainable returns to our stakeholders, community and shareholders.”

Fabienne Demol, Executive Vice-President & Global Head of Business Development of Total Eren,

commented: “We are excited to work with Tharisa on this unique project, which is one of the first of its kind on the African continent, with a dedicated focus on supplying electricity, using renewables, to a single user. Our proven global expertise in solar generation, together with the knowledge of Chariot will showcase our capabilities to deliver sustainable renewable energy projects for the benefit of our customer, Tharisa, and widely, for the mining industry. “

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