Sibanye-Stillwater secures additional 220MW renewable power deal

Sibanye-Stillwater has signed a 10-year renewable energy power purchase agreement (PPA) with Etana Energy to supply an estimated 220 megawatts (MW) of electricity to its South African operations.

The agreement, concluded on 6 February 2026, sources power from a diversified portfolio of solar and wind projects. With this deal, the miner becomes the largest renewable energy offtaker in South Africa’s mining sector and the second-largest private renewable energy offtaker in the country.

Renewable capacity surpasses 600MW target

The additional 220MW increases the group’s total renewable capacity under development from 407MW at the end of 2025 to approximately 627MW — surpassing its 600MW renewable energy target.

The company expects the renewable portfolio to deliver annual electricity cost savings of 20–30% compared to current utility tariffs from Eskom, while accelerating decarbonisation efforts.

The agreement followed a competitive tender process designed to secure flexible commercial terms aligned with the life-of-mine profiles and energy needs of its South African assets. Electricity will be wheeled through the national transmission network.

Emissions reduction and 2040 carbon neutrality goal

The new PPA is projected to reduce greenhouse gas emissions by approximately 648,000 tonnes of CO₂ equivalent annually.

From 2028 onward, Sibanye-Stillwater’s combined renewable energy portfolio is expected to generate about 2.036 terawatt-hours (TWh) of clean energy per year, translating into an estimated 2.198 million tonnes of CO₂ equivalent reduction in Scope 2 emissions annually.

Chief Executive Officer Richard Stewart said the agreement brings the company significantly closer to its long-term sustainability ambitions.

“Our agreement with Etana Energy adds a material 220MW equivalent to over 35% of our renewable energy target and takes us closer towards our 2040 carbon neutral goal. Not only does this underscore our sustainability commitments, but it is also expected to provide a lower-cost energy supply for our South African operations,” Stewart said.

The deal strengthens the company’s strategy of combining cost optimisation with decarbonisation as South Africa’s mining sector accelerates its transition toward cleaner energy sources.