https://newsletter.mw.creamermedia.com
Africa|Diamonds|Energy|Financial|Gas|Power|Projects|Renewable Energy|Renewable-Energy|Solar|Operations
Africa|Diamonds|Energy|Financial|Gas|Power|Projects|Renewable Energy|Renewable-Energy|Solar|Operations
africa|diamonds|energy|financial|gas|power|projects|renewable-energy|renewable-energy-company|solar|operations

Petra signs PPAs to procure wheeled renewable energy for Cullinan, Finsch

Cullinan diamond mine

Cullinan diamond mine

23rd May 2024

By: Darren Parker

Creamer Media Senior Contributing Editor Online

     

Font size: - +

Diamond producer Petra Diamonds has entered into long-term power purchase agreements (PPAs) for the procurement of wheeled renewable energy for its Cullinan and Finsch diamond mines from licensed South African energy trader Etana Energy.

Etana provides cost-competitive clean energy from new large-scale renewable energy projects, mostly wind-based, through wheeling over the existing South African grid. The company has a portfolio of multiple ready-to-build and grid-secured wind and solar projects that are expected to come online over the course of 2025 and 2026.

Under the terms of the PPAs, Etana will supply each of the two operations with between 36% and 72% of the expected load requirement from the 2026 financial year onwards.

This development will enable Petra to fulfil its target of reducing Scope 1 and 2 greenhouse-gas (GHG) emissions by 35% to 40% against its 2019 baseline well ahead of the 2030 goal.

In addition to reducing the company’s carbon footprint, the portion of the energy sourced from Etana will also contribute to predictable energy costs and cost savings over the term of the PPAs.

“This will result in a considerable reduction of our GHG emissions, well ahead of our 2030 target, and will further strengthen the sustainability credentials of our diamonds. We consider this to be an important facet, alongside the traceability and provenance of our diamonds, in differentiating Petra’s product offering.

“The tariff secured is expected to lead to sustained reduction in our energy supply costs, which will further reduce fixed costs at our South African operations,” Petra CEO Richard Duffy said on May 23.

He added that the company remained committed to generating zero emissions on a net basis for Scope 1 and 2 by 2050, but it was hoping to achieve this as early as 2040.

“These agreements with Etana also demonstrate how Petra creates shared value through partnerships and we look forward to embarking on this long-term collaboration with them,” Petra noted.

“This represents a key step towards fulfilling our mission of accelerating the rollout of new renewable-energy capacity in South Africa in a way that creates value for our customers and has a positive impact on the country and our planet,” Etana director Reyburn Hendricks said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
Victaulic
Victaulic

Since 1919, Victaulic’s innovative solutions and design services continue to increase construction productivity and reduce risk, ensuring projects...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (06/12/2024)
6th December 2024 By: Martin Creamer
Magazine round up | 06 December 2024
Magazine round up | 06 December 2024
6th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.106 0.182s - 144pq - 2rq
Subscribe Now