Anglo American said it had teamed up with EDF Renewables to form a new jointly owned company, Envusa Energy, to develop a regional renewable energy ecosystem (RREE) in South Africa.
As part of the agreement, Envusa Energy is launching a mature pipeline of more than 600 MW of wind and solar projects in South Africa – a step towards the development of a system expected to generate 3-5 GW of renewable energy by 2030.
The first phase of the project is expected to be fully funded – including by attracting debt financing that is typical for high quality energy infrastructure projects – and ready for construction to begin in 2023, Anglo American said on Tuesday.
Envusa Energy is expected to supply Anglo American with a blend of renewable energy generated on Anglo American’s sites and renewable energy transmitted via the national grid.
“This energy portfolio approach will aggregate energy from geographically dispersed renewable generating assets and allocate this energy optimally to meet the load demand for Anglo American’s sites,” the company said.
In March 2022, the two companies signed a memorandum of understanding to explore development designed to meet Anglo American’s operational power requirements in South Africa and support the resilience of the local electricity supply systems and the wider decarbonisation of energy in the country.
Reporting by Frank Prenesti at Sharecast.com
