Gold Fields board approves $46 M solar plant
Gold Fields Limited has announced the construction of a 40 MW solar plant at the South Deep mine in South Africa.
Image source: ESI Africa
South Africa, Sandown Sandton: Gold Fields Limited has announced the construction of a 40 MW solar plant at the South Deep mine in South Africa.
This follows the granting of a licence by the National Energy Regulator of South Africa on 25 February 2021.
The 40 MW solar plant will generate over 20 % of the average electricity consumption of the mine. It will comprise 116,000 solar panels and cover a 118 ha area roughly the size of 200 soccer fields and will be on the mine property.
The estimated capital investment for the plant is $46.4 M, including contingencies and escalation. This will be funded from the mine’s positive cash-flows over the next two years. The use of self-generated, renewable energy will translate into savings of on the cost of electricity a year.
South Deep is currently finalising procurement strategies and contractor criteria for the construction of the plant, which will begin during the second quarter of 2021. The plant is expected to be commissioned during the second quarter of 2022.
“We are the first South African mine to build and operate our own solar plant of this scale. This will ensure greater reliability of power supply and reduce the cost of electricity, which currently makes up about 13 % of the mine’s operating costs,” says Chris Griffith, Gold Fields CEO.
“Importantly, it will reduce our carbon footprint by around 100,000 T of CO2 a year, not only enhancing the sustainability of South Deep but also contributing to Gold Fields’ long-term commitment to carbon neutrality,” Griffith adds.
Gold Fields’ energy objectives are based on four pillars – energy must be reliable, available, cost-effective and clean – which promote a shift to self-generation using renewable energy sources.
Source: ESI Africa