Pan African Resources Plc Commission of 10MW Solar PV Plant at Evander
10 Maio 2022 - 9:00AM
UK Regulatory
TIDMPAF
Pan African Resources PLC
(Incorporated and registered in England and Wales under the Companies Act 1985
with registered number 3937466 on 25 February 2000)
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
ADR ticker code: PAFRY
("Pan African" or the "Company" or the "Group")
PAN AFRICAN SUCCESSFULLY COMMISSIONS 10MW SOLAR PHOTOVOLTAIC (PV) PLANT AT
EVANDER GOLD MINES
HIGHLIGHTS
* The first solar PV renewable energy plant of this capacity to be
commissioned by a mining company in South Africa
* Construction cost of R150 million (US$9.4 million at an exchange rate of
US$/ZAR:16.00), with cost savings estimated at R100,000/day R3m/month, at
current electricity tariffs payback is anticipated in under 5 years
* Reduced use of fossil fuel-generated power consumption with an expected
reduction in C02 emissions saving of some 26,000t/annum, contributing to an
estimated 5% reduction in Group emissions
* Feasibility study nearing completion on 12MW expansion to power Evander
underground organic growth projects - construction to commence during
FY2023
* The Group is finalising its roadmap to decarbonisation with an additional
8MW PV plant to be constructed at Barberton Mines during FY2023, combined
with an investigation into operational battery storage solutions
* 30MW of solar capacity expected to be in operation by 2024 across the
Group's assets.
Pan African is pleased to inform shareholders that its Evander solar PV
renewable energy plant commenced the generation and supply of electricity to
the Group's Elikhulu surface retreatment operations, as part of its hot
commissioning process, on Friday, 6th May 2022. The solar PV plant, situated at
Evander Gold Mines, will provide an estimated 30% of Elikhulu's power
requirement and materially reduce electricity costs.
Cobus Loots, CEO of Pan African, commented: "In addition to CO2 emission
reductions, the PV plant has the added benefits of providing a secure and
stable power supply, while at the same time ensuring we manage future cost
pressures resulting from above-inflation electricity tariffs. Reducing our
carbon emissions is just one of the ways Pan African is 'Mining for a Future',
and forms part of our integrated beyond compliance approach in support of our
ESG principles. We will continue with energy independence and decarbonisation
initiatives at all our operations, with another 20MW of solar capacity
scheduled to be constructed in the next two years."
Construction and specifications
* Site area of 20.1 hectares containing 26,640 solar modules (445W Suntech
bi-facial polycrystalline modules for improved yield)
* 50 Sungrow string inverters (250kW each), 4 Sungrow 880V/6.6kV MV
transformers
* 222 STi Norland single axis sun trackers to maximise yield
* 6.6kV MV switching station on site, with a 507m long 6.6kV overhead line
connecting to the mine's electrical network
Pan African concluded the concept design and bankable feasibility study for
this solar PV plant during 2019 and obtained municipal consent for construction
on 17 December 2019. Engineering studies and other regulatory processes,
including the water use licence and environmental approvals and DMRE consent
were obtained during 2020. The NERSA generation licence was issued in August
2021.
Site-establishment and construction commenced in calendar Q1 2021, on
rehabilitated land owned by Evander Mines. The tender for the Evander solar PV
facility was awarded to juwi Renewable Energies South Africa, a subsidiary of
the German headquartered juwi Group, one of the world's leading renewable
energy companies.
Social Impact
During construction the services of 10 local contractor companies were
utilised, which provided 202 temporary local job opportunities. The jobs and
skills developed during construction will be retained for Evander Gold Mine's
underground renewable energy 12MW expansion phase. Apart from using local
contractors for cleaning and maintenance of the solar panels, the Company is
investigating implementation of agriculture projects at the facility which are
expected to create sustainable local employment opportunities and maximise land
utilisation at Evander Gold Mine's solar PV facility.
Rosebank
10 May 2022
For further information on Pan African, please visit the Company's website at
www.panafricanresources.com
Contact information
Corporate Office Registered Office
The Firs Office Building Suite 31
2nd Floor, Office 204 Second Floor
Cnr. Cradock and Biermann Avenues 107 Cheapside
Rosebank, Johannesburg London
South Africa EC2V 6DN
Office: + 27 (0)11 243 2900 United Kingdom
info@paf.co.za Office: + 44 (0)20 7796 8644
Cobus Loots Deon Louw
Pan African Resources PLC Pan African Resources PLC
Chief Executive Officer Financial Director
Office: + 27 (0)11 243 Office: + 27 (0)11 243 2900
2900
Phil Dexter/Jane Kirton Ross Allister/Alexander Allen
St James's Corporate Services Limited Peel Hunt LLP
Company Secretary Nominated Adviser and Joint Broker
Office: + 44 (0)20 7796 8644 Office: +44 (0)20 7418 8900
Ciska Kloppers Thomas Rider/Nick Macann
Questco Corporate Advisory Proprietary BMO Capital Markets Limited
Limited Joint Broker
JSE Sponsor Office: +44 (0)20 7236 1010
Office: + 27 (0)11 011 9200
Hethen Hira Website:
Pan African Resources PLC www.panafricanresources.com
Head: Investor Relations
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za
END
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