Completion of renewable energy power purchase announced

SIBANYE-STILWATER – Sibanye-Stillwater and NOA Group have announced the completion of a 138-megawatt renewable energy power purchase agreement.

This additional supply will increase Sibanye-Stillwater’s renewable energy portfolio to approximately 765MW, entrenching the group’s position as the largest contracted private renewable energy off-taker in the South African mining industry and a leader in the country’s private sector transition to renewable energy.

In terms of this agreement, Sibanye-Stillwater’s South African operations will be supplied with 138MW per annum of renewable energy from NOA, a licensed energy trader, from a portfolio of aggregated solar and wind generation facilities under a flexible 10-year agreement, supplemented by short-term supply on a take-and-pay basis. This additional renewable energy supply from NOA is expected to reduce Sibanye-Stillwater’s greenhouse gas emissions by approximately 433,080 tCO₂e per annum from 2028 onwards.

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Electricity will be delivered through a national wheeling framework using the Eskom grid. The transaction represents one of NOA’s largest agreements to date, reflecting the strength of its growing fleet of renewable energy generation assets. It further underpins NOA’s commercial offering and execution capability in structuring complex, long-term renewable energy solutions for energy-intensive customers.

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“This transaction reinforces the accelerating shift towards large-scale wheeled renewable energy in the mining industry,” said Karel Cornelissen, Group CEO of NOA. “We have scaled to deliver approximately 1.5 TWh per annum of renewable energy to some of South Africa’s leading mining companies.”

Cornelissen added that the agreement was structured to meet Sibanye-Stillwater’s additional energy requirements on flexible terms, which mitigate potential variations in the Group’s future energy demand. “Our role is to absorb complexity whilst delivering bespoke renewable energy solutions aligned to real operational objectives. This agreement demonstrates what can be achieved when scale, execution capability and long-term strategy converge.”

Sibanye-Stillwater CEO Richard Stewart commented, “We welcome this renewable energy supply agreement with NOA, which is another critical step towards reducing our carbon emissions and achieving our goal of carbon neutrality by 2040. As we further entrench our position as the leading renewable energy user in the South African mining sector, we continue to demonstrate our commitment to creating shared value for all our stakeholders through commercially attractive, sustainable energy security, whilst supplying our customers with responsibly produced products.”

The Group has secured a 765MW renewable energy portfolio through off-balance-sheet financing with its various projects financed by Independent Power Producers and other third parties. By 2028, approximately 56% of total energy demand from the South African operations will be met by renewable energy supply. The annual renewable energy cost is forecast to be, on average, 20-30% lower than forecast Eskom wholesale annual tariffs, translating into savings of more than R1 billion per annum from 2028.

Through the renewable energy portfolio, greenhouse gas emissions of approximately 2.63 million tCO₂e per annum are expected to be avoided from 2028, approximately 41% lower compared to 2024 emissions. The recent additions to Sibanye-Stillwater’s South African renewable energy portfolio are tangible actions that drive the Group closer to its 2040 carbon-neutral goal.