Sibanye-Stillwater extends leadership as South Africa’s top renewable energy consumer with 138MW NOA deal

Sibanye-Stillwater has further solidified its status as South Africa’s leading renewable energy consumer in the mining sector after concluding a significant 138 megawatt (MW) renewable energy power purchase agreement (PPA) with NOA Group.

Announced in Johannesburg on 13 February 2026, the agreement marks another milestone in the Group’s clean energy expansion strategy. With this additional supply, Sibanye-Stillwater’s renewable energy portfolio now stands at approximately 765MW, reinforcing its position as the largest contracted private renewable energy off-taker in South Africa’s mining industry and a leader in the country’s broader private sector transition to renewable energy.

Under the terms of the agreement, Sibanye-Stillwater’s South African operations will receive 138MW per annum of renewable energy from NOA. The supply will be sourced from an aggregated portfolio of solar and wind generation facilities under a flexible 10-year agreement, complemented by short-term take-and-pay arrangements. Electricity will be delivered through South Africa’s national wheeling framework using the Eskom grid, enabling efficient distribution across operations.

From 2028 onwards, this additional renewable energy supply is expected to reduce Sibanye-Stillwater’s greenhouse gas emissions by approximately 433,080 tCO₂e per annum, marking a significant environmental milestone for the Group.

The transaction represents one of NOA’s largest agreements to date, underscoring the strength of its expanding renewable energy asset base and its expertise in structuring complex, long-term energy solutions for energy-intensive industries.

“This transaction reinforces the accelerating shift toward large-scale wheeled renewable energy in the mining industry,” said Karel Cornelissen, Group CEO of NOA. “We have scaled to deliver approximately 1.5 TWh per annum of renewable energy to some of South Africa’s leading mining companies.”

Cornelissen added that the agreement was structured to meet Sibanye-Stillwater’s additional energy requirements on flexible terms, mitigating potential variations in the Group’s future energy demand. “Our role is to absorb complexity while delivering bespoke renewable energy solutions aligned to real operational objectives. This agreement demonstrates what can be achieved when scale, execution capability and long-term strategy converge.”

For Sibanye-Stillwater, the agreement is a decisive step toward achieving its 2040 carbon-neutral ambition.

Sibanye-Stillwater CEO Richard Stewart commented, “We welcome this renewable energy supply agreement with NOA, which is another critical step towards reducing our carbon emissions and achieving our goal of carbon neutrality by 2040. As we further entrench our position as the leading renewable energy user in the SA Mining sector, we continue to demonstrate our commitment to creating shared value for all our stakeholders through commercially attractive, sustainable energy security, while supplying our customers with responsibly produced products.”

Through off-balance-sheet financing structures with Independent Power Producers and third parties, Sibanye-Stillwater has now secured a total renewable energy capacity of 765MW.

By 2028, approximately 56% of total energy demand from the Group’s South African operations will be met by renewable sources. Renewable energy costs are forecast to be, on average, 20–30% lower than projected Eskom wholesale tariffs, translating into savings of more than R1 billion per annum from 2028.

Through this renewable energy portfolio, greenhouse gas emissions of approximately 2.63 million tCO₂e per annum are expected to be avoided from 2028, representing a 41% reduction compared to 2024 emissions levels.

These measurable financial and environmental benefits highlight how renewable energy procurement is becoming central to operational resilience, cost competitiveness and sustainability leadership within South Africa’s mining sector.