Tharisa secures early renewable energy from Etana
Tharisa receives first renewable energy from Etana, meeting 10% of mine electricity demand.
- Initial renewable energy supply approximately 10% of monthly electricity demand
- Forecast supply under long-term PPA approximately 70% of current electricity demand
- Carbon emissions reduction target 30% by 2030
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JSE share code: THA
LSE share code: THS
A2X share code: THA
Bond issuer: Arxo Finance plc
Bond ISIN: NO0013769844
('Tharisa' or the 'Company' or 'Group')
THARISA SECURES EARLY WHEELED RENEWABLE ENERGY SUPPLY FROM ETANA ENERGY
Tharisa, the mining, metals and innovation company dual-listed on the Johannesburg and London stock exchanges, is pleased to announce that its operating subsidiary, Tharisa Minerals, received its first wheeled renewable energy from Etana Energy in September 2026. The initial supply is expected to meet approximately 10% of the Tharisa Mine's current monthly electricity demand, marking a material step in the Group's strategy to reduce energy costs and Scope 2 greenhouse gas emissions.
Highlights
- First wheeled renewable energy received by Tharisa Minerals from Etana Energy in September 2026, commencing delivery under the Group's renewable energy programme
- Initial supply from an early wind-energy tranche generated in Mpumalanga is expected to meet approximately 10% of the Tharisa Mine's current monthly electricity demand
- Demonstrates the successful use of wheeled renewable energy to decrease energy costs and reduce Scope 2 greenhouse gas emissions
- Under the long-term power purchase agreement ('PPA') signed in July 2024, Etana Energy is forecast to supply approximately 70% of Tharisa Minerals' current electricity demand, including wheeled solar from Q1 2027 and further wheeled wind later in 2027
- Supports the Group's target of a 30% reduction in emissions by 2030
Early wheeled renewable energy supply
Tharisa has committed to reducing its carbon emissions by 30% by 2030. To support this target, management has progressed several decarbonisation projects and opportunities over the past few years, including the procurement of wheeled renewable energy for the Tharisa Mine.
In September 2026, Tharisa Minerals received its first wheeled renewable energy from Etana Energy, representing a material step in the Group's decarbonisation programme. This initial delivery forms part of an early energy tranche generated by a wind farm in Mpumalanga and precedes the larger renewable energy supply scheduled under the long-term PPA.
The initial supply is expected to meet approximately 10% of the Tharisa Mine's current monthly electricity demand. By sourcing renewable electricity through the grid, Tharisa Minerals can reduce its reliance on conventional grid electricity, supporting lower energy costs and a reduction in Scope 2 greenhouse gas emissions.
Long-term power purchase agreement
Under the long-term PPA signed in July 2024, Etana Energy is forecast to supply approximately 70% of Tharisa Minerals' current electricity demand from its broader generation portfolio. Following the early wind-energy tranche received in September 2026, wheeled solar supply is expected to commence in Q1 CY2027, with additional wheeled wind energy scheduled for later in 2027.
Decarbonisation strategy
The early renewable energy supply converts the Group's decarbonisation strategy into an operational initiative at the Tharisa Mine. Together with the larger volumes scheduled under the PPA, it is expected to reduce Scope 2 emissions and support the Group's target of a 30% reduction in carbon emissions by 2030.
Tharisa underground project
The PPA was negotiated and signed prior to the commencement of the underground project and the 70% coverage relates to the open pit operation. The Tharisa underground project is expected to double the operation's electricity demand as mining activities extend below surface, which moves a lot of the energy requirement from diesel to electricity. Tharisa is therefore preparing to procure additional renewable energy supply to support the complete mine's future requirements and maintain progress towards the Group's decarbonisation targets, according to Cosmas Chiteme, Group Energy Manager at Tharisa.
Definitions
| Wheeling | The transmission of electricity purchased from an independent generator or electricity trader to an off-taker through the national or municipal grid network, with the electricity accounted for through the applicable grid and settlement arrangements. |
| PPA | Power purchase agreement. |
| Scope 2 emissions | Indirect greenhouse gas emissions associated with purchased electricity. |
| Tharisa Minerals | Tharisa Minerals Proprietary Limited, operator of the Tharisa Mine in South Africa. |
| Etana Energy | South African electricity trader supplying renewable energy to Tharisa Minerals under the long-term PPA. |
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Tharisa plc is an integrated resource group producing platinum group metals (PGMs) and chrome concentrates, commodities central to the global energy transition and the decarbonisation of industry. The Group operates across the full value chain - exploration, mining, processing, beneficiation, marketing, sales, and logistics - while pursuing initiatives to reduce the emissions intensity of its operations.
Tharisa targets a 30% reduction in carbon emissions by 2030 and net carbon neutrality by 2050.
About Etana Energy
Etana Energy is a licenced electricity trader that supplies electricity generated by renewable energy projects to businesses in South Africa, using the national electricity grid. Etana's customers benefit from certified low-carbon electricity at tariffs competitive with Eskom or municipal supply, forward price certainty, flexible contracting terms, and qualifying B-BEEE expenditure.
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