Diamond producer Petra Diamonds has entered into long-term energy buy agreements (PPAs) for the procurement of wheeled renewable vitality for its Cullinan and Finsch diamond mines from licensed South African vitality dealer Etana Power.
Etana supplies cost-competitive clear vitality from new large-scale renewable vitality initiatives, largely wind-based, by way of wheeling over the prevailing South African grid. The corporate has a portfolio of a number of ready-to-build and grid-secured wind and photo voltaic initiatives which are anticipated to come back on-line over the course of 2025 and 2026.
Underneath the phrases of the PPAs, Etana will provide every of the 2 operations with between 36% and 72% of the anticipated load requirement from the 2026 monetary yr onwards.
This growth will allow Petra to fulfil its goal of lowering Scope 1 and a pair of greenhouse-gas (GHG) emissions by 35% to 40% in opposition to its 2019 baseline nicely forward of the 2030 objective.
Along with lowering the corporate’s carbon footprint, the portion of the vitality sourced from Etana may even contribute to predictable vitality prices and value financial savings over the time period of the PPAs.
“This may end in a substantial discount of our GHG emissions, nicely forward of our 2030 goal, and can additional strengthen the sustainability credentials of our diamonds. We take into account this to be an vital side, alongside the traceability and provenance of our diamonds, in differentiating Petra’s product providing.
“The tariff secured is anticipated to result in sustained discount in our vitality provide prices, which is able to additional scale back fastened prices at our South African operations,” Petra CEO Richard Duffy mentioned on Might 23.
He added that the corporate remained dedicated to producing zero emissions on a web foundation for Scope 1 and a pair of by 2050, however it hoped to attain this as early as 2040.
“These agreements with Etana additionally reveal how Petra creates shared worth by way of partnerships and we look ahead to embarking on this long-term collaboration with them,” Petra famous.
“This represents a key step in direction of fulfilling our mission of accelerating the rollout of latest renewable-energy capability in South Africa in a method that creates worth for our clients and has a constructive affect on the nation and our planet,” Etana director Reyburn Hendricks mentioned.
