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Finalisation of an agreement in respect of an 80MW solar power plant at the Zondereinde operation
NORTHAM PLATINUM HOLDINGS LIMITED NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa Incorporated in the Republic of South Africa
Registration number: 2020/905346/06 Registration number: 1977/003282/06
JSE share code: NPH ISIN: ZAE000298253 JSE debt issuer code: NHMI
("Northam Holdings" or, together with its subsidiaries, Bond code: NHM015 Bond ISIN: ZAG000164922
"Northam") Bond code: NHM016 Bond ISIN: ZAG000167750
Bond code: NHM021 Bond ISIN: ZAG000181496
Bond code: NHM022 Bond ISIN: ZAG000190133
Bond code: NHM023 Bond ISIN: ZAG000190968
Bond code: NHM025 Bond ISIN: ZAG000195934
Bond code: NHM026 Bond ISIN: ZAG000195942
("Northam Platinum")
FINALISATION OF AN AGREEMENT IN RESPECT OF AN 80MW SOLAR POWER PLANT AT THE ZONDEREINDE OPERATION
Northam is pleased to announce the successful finalisation of a Power Purchase Agreement ("PPA") with an
Independent Power Producer ("IPP") in respect of an 80MW solar power plant to service its Zondereinde operation near
the town of Thabazimbi in the Limpopo province.
This plant will deliver 220GWh of energy per year directly into Zondereinde's mining and smelting operations, independent
of the Eskom grid, reducing the operation's carbon footprint by 22%. Further benefits include significant cost savings and
reduced power supply risk. Construction has commenced with power expected to be available from December 2025.
The IPP comprises a consortium including the STANLIB Infrastructure Fund II, Royal Bafokeng Holdings Proprietary Limited
and Energy Group. Project finance is being provided by Nedbank Limited (acting through its Nedbank Corporate and
Investment Banking Division) and The Standard Bank of South Africa Limited (acting through its Corporate and Investment
Banking Division).
The project is part of a broader strategy to reduce Northam's environmental impact whilst securing the supply of bulk
services. This includes a reduction in carbon intensity by 60% from a 2019 baseline by 2030, whilst improving power
availability and decreasing overall electricity costs.
Northam is at an advanced stage of progressing additional renewable energy projects in a dynamic and rapidly changing
technological and legislative environment. This includes solar, wind and battery storage initiatives.
Paul Dunne, Northam's Chief Executive Officer, welcomed the PPA, stating that, "Northam is committed to sustainably
reducing the environmental impact of our operations, and this, our first major renewable energy project, represents a
significant milestone. The environmental, operating cost and energy security benefits implicit in this initiative add additional
resilience to our world-class Zondereinde mine".
Johannesburg
4 October 2024
Corporate Advisor and Sponsor to Northam Holdings
One Capital
Corporate Advisor and Debt Sponsor to Northam Platinum
One Capital
Date: 04-10-2024 07:05:00
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