Wrap Text
Sibanye-Stillwater celebrates renewable energy milestone as the Castle wind farm achieves commercial operation
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
("Sibanye-Stillwater" or the "Group" or the "Company")
Website: www.sibanyestillwater.com
Sibanye-Stillwater celebrates renewable energy milestone as the Castle wind farm achieves
commercial operation
Johannesburg, 1 April 2025: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is pleased
to advise that the 89 megawatt (MW) Castle wind farm (Castle), a facility dedicated to supplying
renewable energy to Sibanye-Stillwater's South African (SA) operations, has achieved commercial
operation. This marks a significant milestone for the Group and for South Africa's private
renewable energy sector, with Castle being the largest private-offtake wind farm in operation
in South Africa to date.
Located near De Aar in the Northern Cape, the project benefits from some of South Africa's
best wind resources and direct access to the main transmission corridor connecting the Cape
provinces to the industrial north-east of South Africa. Third-party funding for the project
was secured through a 15-year build, own, operate, and transfer Power Purchase Agreement (PPA).
Castle will supply the SA operations via a wheeling agreement with Eskom. Sibanye-Stillwater's
early market entry secured vital grid access, avoiding current capacity constraints that limit
new wind project development.
Key project benefits include:
• Cost saving relative to prevailing Eskom utility rates, resulting in a significant cost
saving for our SA operations
• Expected annual renewable energy supply of 309GWh (5.5% of Sibanye-Stillwater's energy
demand in South Africa)
• Reduction of 321,000t CO2e annually (5.0% of Group scope 1 and 2 emissions) and mitigation
of future, indirect carbon tax liabilities
Castle is one of four renewable energy projects with a combined capacity of 407MW currently
under construction for our SA operations. Of this, 267MW of capacity is anticipated to achieve
commercial operation in 2025, including 75MW from the Springbok Solar Project and 103MW from
the Witberg Wind Farm (both announced on 7 December 2023). Up to a further 333MW is forecast
to be completed by the end of 2026, including the 140MW Umsinde Emoyeni wind farm (announced
on 30 May 2024).
The Castle consortium was led and co-sponsored by African Clean Energy Developments (ACED),
with African Infrastructure Investment Managers (AIIM) IDEAS Fund and Reatile Renewables as
shareholders. AIIM is a division of Old Mutual Alternative Investments (OMAI), and its IDEAS
Fund is one of South Africa's largest domestic infrastructure equity funds. ACED and AIIM
affiliate, Energy Infrastructure Management Services (EIMS Africa), will now manage the wind
farm. Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is the sole mandated
lead arranger for the project.
Neal Froneman, CEO of Sibanye-Stillwater, stated, "This milestone represents a significant
advancement in providing sustainable, lower-cost power and progressing towards our goal of
achieving carbon neutrality by 2040. We thank the project consortium for effectively managing
the construction and start-up, securing our offtake. We will continue to drive the delivery
of the balance of our renewable energy projects as a key element of our Group strategy."
About Sibanye-Stillwater
Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio
of operations, projects and investments across five continents. The Group is also one of the
foremost global recyclers of a suite of metals and has interests in leading mine tailings
retreatment operations.
Sibanye-Stillwater is one of the world's largest primary producers of platinum, palladium, and
rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium,
nickel, chrome, copper and cobalt. The Group has also diversified into battery metals mining
and processing and has increased its presence in the circular economy by growing its recycling
and tailings reprocessing exposure globally. For more information, see
www.sibanyestillwater.com.
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com
LinkedIn: https://www.linkedin.com/company/sibanye-stillwater
Facebook: https://www.facebook.com/SibanyeStillwater
YouTube: https://www.youtube.com/@sibanyestillwater/videos
X: https://twitter.com/SIBSTILL
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
DISCLAIMER
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the "safe harbour" provisions of the United
States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included
in this presentation may be forward-looking statements. Forward-looking statements may be identified by the use of words
such as "will", "would", "expect", "forecast", "potential", "may", "could" "believe", "aim", "anticipate", "target",
"estimate" and words of similar meaning.
These forward-looking statements, including among others, those relating to Sibanye Stillwater Limited's (Sibanye-
Stillwater or the Group) future financial position, business strategies, business prospects, industry forecasts,
production and operational guidance, climate and ESG-related targets and metrics, and plans and objectives for future
operations, project finance and the completion or successful integration of acquisitions, are necessarily estimates
reflecting the best judgement of Sibanye-Stillwater's senior management. Readers are cautioned not to place undue
reliance on such statements. Forward-looking statements involve a number of known and unknown risks, uncertainties and
other factors, many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater that could
cause its actual results and outcomes to be materially different from historical results or from any future results
expressed or implied by such forward-looking statements. As a consequence, these forward-looking statements should be
considered in light of various important factors, including those set forth in Sibanye-Stillwater's 2023 Integrated
Report and annual report on Form 20-F filed with the Securities and Exchange Commission (SEC) on 26 April 2024 (SEC
File no. 333-234096). These forward-looking statements speak only as of the date of this presentation. Sibanye-Stillwater
expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the
extent legally required).
WEBSITES
References in this announcement to information on websites (and/or social media sites) are included as an aid to their
location and such information is not incorporated in, and does not form part of, this announcement.
Date: 01-04-2025 11:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
