Tharisa PLC (LSE:THS, JSE:THA) has signed an agreement for the development of a solar power plant to supply power to its Tharisa Mine in South Africa.
The platinum group metals and chrome producer said it signed a comprehensive memorandum of understanding (MoU) with renewable energy producer Total Eren and Chariot Ltd (AIM:CHAR, OTC:OIGLF).
The MoU, which Tharisa said is a precursor to the signing of a long-term power purchase agreement for the supply of electricity on a take-or-pay basis, envisages that Total Eren and Chariot together develop, finance, construct, own, operate and maintain a solar photovoltaic project for the mine.
It is anticipated to initially provide 40 megawatts at peak, with demand expected to increase over the life of the mine, which Tharisa said would “adequately” cover its current energy requirements.
This follows the London- and South Africa-listed company pledging in September to reduce carbon emissions 30% by 2030 and become carbon net neutral by 2050.
Tebogo Matsimela, head of ESG at Tharisa, said: “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.”
He added: “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."