Pan African signs ten-year renewable supply deal with NOA Trading
Gold producer Pan African Resources has signed a ten-year renewables supply agreement with licensed electricity trader NOA Group Trading for 10% of its total yearly electricity load of 112 GWh.
The agreement allows Pan African to source wheeled renewable energy from multiple generation facilities for its Barberton Mines, Evander Mines and Mogale Tailings Retreatment (MTR) operations in the Mpumalanga and Gauteng provinces.
It also includes the provision of verified International Renewable Energy Certificates and will allow the miner to report yearly carbon emission reductions of about 137 000 t.
The agreement is additional to Pan African’s own mine-site renewables generation, arising from a 9.975 MW solar PV plant at Evander and the 8.75 MW Fairview solar PV plant at Barberton operations.
The company is also advancing the development of an additional 20 MW solar PV facility at Evander, and has initiated a feasibility study for renewable-energy infrastructure at its recently commissioned MTR operation.
Pan African CEO Cobus Loots describes the agreement with NOA as another strategic step in its journey toward environmental sustainability, but says it will also help stabilise supply to its operations and deliver cost savings. These savings have not been quantified, however, nor have any tariff details been disclosed.
The agreement, which includes an option to extend to 15 years, has been concluded only days after NOA was cited by Eskom in an application to have its trading licence, together with those of five other traders licensed by the National Energy Regulator of South Africa (Nersa) in 2024, reviewed and set aside.
Eskom argues that the licences should not have been granted until trading rules had been finalised, despite having not objected to the licensing of several other traders that have been operating in South Africa for more than a decade. The legal action has also been initiated despite Nersa having launched a process to clarify the trading rules by June 2026.
Backed by African Infrastructure Investment Managers, NOA has already secured several major power supply agreements in the mining sector and CEO Karel Cornelissen says the deal with Pan African reflects a growing demand by domestic miners for reliable, cost-effective renewable power.
“We recognise the enormous potential in South Africa’s mining sector, with around 15.8 GW of renewable energy initiatives currently under way,” Cornelissen says, while also highlighting that the transaction with Pan African was concluded in only three months.
“Our focus on scalability and tailored energy solutions means we can offer extremely competitive tariffs and help clients meet their ambitious environmental, social and governance commitments.”
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