Clean energy on way to platinum mines from R2.5bn solar project in North West

This follows local independent power producer SOLA Group reaching agreement with local commercial banks and partners to provide finance to start construction on the 132 MWp solar project,which will sell  energy to ARM’s platinum mining operations through a long-term power purchase agreement.  
From 2026, the project is to supply ARM Platinum's mining operations with 270 GWh of carbon-free electricity a year for 20 years. It is owned by SOLA and African Rainbow Energy with senior lending from ABSA, Standard Bank, the Development Bank of Southern Africa, and Nedbank. Financing, ownership, construction, and design are all 100% South African.
This is the third large-scale renewable energy project closed by SOLA in six months, bringing its total number of megawatts under construction to 390 MW. This involves 588 000 solar panels spread over an area of 750 ha and providing close to 1 TWh of energy a year, which is the equivalent of 11% of South Africa's electricity supply shortfall, as well as the creation of 1 200 employment opportunities.