Posted: October 13, 2023
The R1 billion investment by the Chariot Transitional Power in Rustenburg, North West, is set to generate up to 40 MW of photovoltaic power to supply electricity to the Tharisa Minerals platinum group metals and chrome mine. The Buffelspoort Solar Energy project was initiated within the context of the current energy challenges and load shedding, with Tharisa embarking on a journey to improve the stability of its electricity supply by diversifying away from the state utility.
The investment pledge was made at the fifth South African Investment Conference that was hosted by President Cyril Ramaphosa in Johannesburg in April this year.
The Chief Executive Officer of Chariot, Mr Benoit Garrivier, says the construction of the solar energy facility is set to start in the second quarter of 2024.
“As an Africa-focused developer and an independent power producer, Chariot’s core mandate is to develop, finance and operate renewable projects in Africa to sell renewable energy to private off-takers. South Africa is an important market for the company because of its size in Sub-Saharan Africa, the abundance of renewable solar resources, the existence of various strong corporate off-takers and a supportive government. Various government initiatives over the last few years have made the South African market ideal,” says Garrivier.
He adds that during the construction period the Buffelspoort Project will create jobs for about 200 people, mainly drawn from the local communities.
On 10 June 2021, President Ramaphosa announced the government’s approval of an increase in the generation license exemption threshold for embedded generation facilities from 1 MW to 100 MW. This allows industry to not only generate electricity for self-consumption but allows them to develop facilities with a more realistic capacity response to their demand requirements without the need to obtain a Generation License from National Energy Regulator of South Africa (NERSA).
The Chief Executive Officer of Chariot Transitional Power, Mr Benoit Garrivier
Bongani Lukhele – Director: Media Relations
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