Glencore-Merafe Chrome JV strikes deal on R2.1bn solar plant

GLENCORE and its joint venture partner Merafe Resources have agreed a deal with Pele Green Energy to build a R2.1bn utility-scale renewable energy plant, said Bloomberg News.Citing Gqi Raoleka, MD of Pele, the newswire said a 100MW solar plant would be built at the Glencore-Merafe Chrome Venture’s operation in South Africa’s Free State province. Merafe has a 20.5% stake in the joint venture.South African banks Nedbank Group and Absa Group will provide debt.“By reducing carbon emissions and increasing the share of renewable energy in the country’s energy mix, the Sonvanger solar plant adds to South Africa’s goal of a low-carbon future,” said Raoleka.Policy reforms in South Africa now allow companies to construct utility-scale electricity plants, which has seen a jump in private development of renewable energy in Africa’s most-advanced economy. The country will have 32GW of installed renewable capacity within the next five years, said Bloomberg citing industry forecast by GreenCape.The project is Pele’s first for a private client and is part of wider plans to develop 5,000MW of capacity, Raoleka told Bloomberg News.The development is in line with Glencore’s broader climate strategy and responsible sourcing of commodities, said Glencore’s Ferroalloys CEO Japie Fullard.The post Glencore-Merafe Chrome JV strikes deal on R2.1bn solar plant appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com