Pinsent Masons advises landmark renewable Corporate Power Purchase Agreement in South Africa
11 Oct 2022 | 09:34 am | 1 min. read
Multinational law firm Pinsent Masons has advised Voltalia South Africa Pty Ltd on its solar power initiative with Richards Bay Minerals (RBM).
Voltalia has entered into a long term corporate power purchase agreement with RBM for the sale and purchase of energy generated from a 148MW solar photovoltaic plant to be located in Limpopo. RBM is South Africa’s largest mineral sands producer and a subsidiary of Anglo-Australian metals and mining group Rio Tinto.
As part of the 20-year Corporate Power Purchase Agreement (CPPA), Voltalia will supply around 300 gigawatt hours of renewable energy every year to RBM’s smelting and processing facilities. The agreement will see RBM enjoy a more reliable long-term access to power while reducing its annual greenhouse gas emissions by at least 10%, or 237,000 tons per year - the equivalent to removing more than 50,000 cars from the road.
The Pinsent Masons team is led by project finance partner Apicksha Patel, construction partner Jurg van Dyk, and energy partner Emma Roberts. Property legal director Nayna Cara and energy and environmental legal director Adam Gunn will continue to work on the project.
The electricity will be generated by Voltalia’s Bolobedu site, to be built in the Limpopo province in north-eastern South Africa. The power plant will benefit from the region’s good solar conditions and grid availability.
Jurg van Dyk said: “The project further demonstrates the groundswell of PPA activity in South Africa as large corporates continue to seek alternative viable options to increase stable electricity supply via renewable energy, while reducing their carbon footprint.”
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