Etana Energy concludes a market-leading, flexible renewable energy power purchase agreement with Sibanye-Stillwater
600 GWh per annum of renewable electricity, equivalent to approximately 220MW, will be supplied to Sibanye-Stillwater’s South African operations from a diversified generation portfolio of solar and wind projects over a 10-year term.
JSE- and NYSE-listed Sibanye-Stillwater has signed a market-leading, flexible power purchase agreement (PPA) for the procurement of wheeled renewable energy with Etana Energy. Under the 10-year agreement, Etana Energy, a licensed electricity trader, will supply 600 GWh per year of renewable electricity, equivalent to approximately 220MW, from a diversified portfolio of solar and wind projects. The wheeled electricity will be delivered to Sibanye-Stillwater’s South African operations using the national electricity transmission network.
The agreement was structured by Etana Energy to meet Sibanye-Stillwater’s operational requirements, integrating seamlessly with its existing long-term bilateral PPAs and aligning with the life-of-mine profile of its South African operations. The agreement enables decarbonisation for Sibanye-Stillwater’s South African gold and PGM operations while reducing electricity costs. Once operational from late 2027, the renewable electricity supplied under the agreement is expected to reduce greenhouse gas emissions by approximately 648,000 tCO2e1 per annum.
Sibanye-Stillwater CEO, Richard Stewart commented “Our agreement with Etana Energy adds a material 220MW equivalent to over 35% of our renewable energy target and takes us closer towards our 2040 carbon neutral goal. Not only does this underscore our sustainability commitments but it is also expected to provide a lower-cost energy supply for our South African operations.”
Etana Energy CEO, Evan Rice commented “We’re incredibly proud to have been selected by Sibanye-Stillwater, a global mining juggernaut and sustainability champion, as a renewable energy partner. Our common commitment to global sustainability formed the cornerstone of our strategic partnership.
“Large power users are playing a critical role in underpinning the investment in new clean energy generation capacity in South Africa with their offtake commitments. To maximise this potential and the value creation for customers, it’s critical to build solutions around their specific business objectives and operational outlook and provide the contractual flexibility that mitigates the risk associated with long-term commitments, which is something we pride ourselves on. We look forward to delivering this energy and contributing to the competitiveness of Sibanye-Stillwater’s operations and their positive socio-economic impact in South Africa.”
Etana Energy has signed customer power purchase agreements with more than 20 large electricity users. This agreement represents the third long-term PPA concluded by Etana Energy with large mining companies, following agreements previously signed in 2024 with Tharisa Minerals and Petra Diamonds for wheeled renewable electricity supply.
