Wrap Text
Pan African successfully commissions 10MW solar photovoltaic (PV) plant at Evander Gold Mines
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
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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 2900 Office: + 27 (0)11 243 2900
Phil Dexter/Jane Kirton Ross Allister/Alexander Allen
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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 Limited BMO Capital Markets Limited
JSE Sponsor Joint Broker
Office: + 27 (0)11 011 9200 Office: +44 (0)20 7236 1010
Hethen Hira Website: www.panafricanresources.com
Pan African Resources PLC
Head: Investor Relations
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za
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Date: 10-05-2022 02:00:00
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