Evander Mines Solar Photovoltaic Plant Update
Pan African Resources PLC
(Incorporated and registered in England and Wales under 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)
EVANDER MINES SOLAR PHOTOVOLTAIC PLANT UPDATE
Pan African is pleased to announce that it has entered into an engineering, procurement and
construction agreement with juwi South Africa to construct its 9.975MW solar photovoltaic plant at
Evander Mines (“Evander Mines solar photovoltaic plant”). Construction will commence in the first
quarter of 2021, with first power expected in the third calendar quarter of 2021.
Part of the international juwi Group, juwi South Africa is one of the world’s leading renewable energy
companies. To date, juwi South Africa has built six utility scale solar plants totalling 207 MW under
the South African Government’s Renewable Energy Independent Power Producers Programme
(REIPPP). The juwi Group, headquartered in Germany, and its international subsidiaries has
completed over 1700 solar plants globally with a cumulative power of more than 3,000 megawatts.
The Evander Mines solar photovoltaic plant will utilise bi-facial module technology to maximise its
yield and it will be constructed on previously disturbed land owned by Evander Mines. The Evander
Mines solar photovoltaic plant will provide an estimated 30% of Elikhulu’s power requirement during
daylight hours and is expected to materially reduce electricity costs at this operation. Furthermore,
the Evander solar photovoltaic plant is expected to enhance the reliability of the power supply during
daylight hours and result in an expected CO2 saving of more than 26,000 tons in its first year of its
operation.
The total cost of the Evander solar photovoltaic plant is ZAR140 million, with a calculated payback
on this investment of less than 5 years.
This solar photovoltaic plant further reduces Elikhulu’s environmental impact and is just one of a
number of initiatives in the Group’s commitment to producing high-margin ounces in a safe and
efficient manner, while investing in local communities and minimising the environmental impact of
operations.
Pan African is also assessing the merits of expanding the Evander Mines solar photovoltaic plant in
due course to provide for a clean energy feed to its Egoli Project, and of a similar solar photovoltaic
plant at the Group’s Barberton Mines.
“The Evander Mines solar photovoltaic plant is integral to the Group’s purpose of “Mining for a
Future” and pursuing ESG initiatives that go beyond compliance. This plant will be one of the first of
its kind in the South African mining space. We look forward to commissioning the operation during
2021, on budget and on schedule.” – Cobus Loots.
The information contained in this update is the responsibility of the Pan African board of directors
and has not been reviewed or reported on by the Group’s external auditors.
Rosebank
15 December 2020
Certain information communicated in this announcement was, prior to its publication, inside
information for the purposes of Article 7 of Regulation 596/2014.
For further information on Pan African and its ESG initiatives, 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/David McKeown
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/Neil Elliot
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
Date: 15-12-2020 09:00:00
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Article source: https://www.moneyweb.co.za/mny_sens/pan-african-resources-plc-evander-mines-solar-photovoltaic-plant-update/