• Third and largest renewables transaction with Red Rocket will generate 230MW for RBM
• RBM has secured ~500MW renewables generation capacity
• Three projects to reduce RBM's GHG emissions by ~60% against the 2018 Scope 1 & 2 baseline
RICHARDS BAY, South Africa -- Richards Bay Minerals (RBM) has announced the signing of its third Power Purchase Agreement (PPA), the latest being with Red Rocket South Africa (Pty) Ltd in respect of Phase 1 of the Overberg Wind Farm.
Construction of the Overberg Wind Farm, near Swellendam in the Western Cape, is anticipated to begin in the first half of 2025, with the first energy flow targeted for December 2026. The Overberg Wind Farm will be developed and commissioned in two phases. RBM has been allocated 230MW of the project's total 380MW export capacity.
The Overberg Wind Farm project is expected to significantly reduce RBM's annual greenhouse gas (GHG) emissions by around 30% per cent (0.7 Mt of CO2e).
RBM has now entered into approximately 500MW of renewable energy PPAs.
In October 2022, RBM announced the signing of the Bolobedu Solar PV project, located at around 120km east of Polokwane in Limpopo. The 130MW Bolobedu Solar PV project has the capacity to generate around 300GWh of energy per annum, and construction is underway.
In June 2024, RBM announced the signing of a PPA for the Khangela Emoyeni Wind Farm, located near Murraysburg in the Western Cape and Northern Cape provinces. The 140MW project is expected to deliver around 460GWh of renewable energy per annum to RBM through a wheeling arrangement with Eskom. Construction of the project began in July 2024 and is progressing well.
Werner Duvenhage, Managing Director RBM and Rio Tinto Iron and Titanium (RTIT) African Operations said: "This announcement comes shortly after the United Nations International Day of Clean Energy on 26 January 2025, which reminds us of the need to transition from our reliance on fossil fuels for the betterment of our planet and people. At RBM, we are taking real action to displace electricity generated from coal with solutions like solar PV, wind, and other renewable technologies.
"The Overberg Wind Farm project represents the biggest project in RBM renewable energy procurement and is a key step towards RBM achieving its commitment in line with the target set by the Rio Tinto Group, to reduce its emissions by 50% by 2030, relative to the 2018 baseline, and achieve net zero by 2050."
"The signing of this PPA for the Overberg Wind Farm is a significant milestone in our ongoing partnership with Richards Bay Minerals. This project will deliver 230MW of clean energy to the South African grid, driving positive environmental impact for RBM while contributing to South Africa's energy transition. At Red Rocket, we are proud to support RBM's commitment to a more sustainable future and to be at the forefront of delivering innovative, impactful renewable energy solutions," said Matteo Brambilla, Chief Executive Officer, Red Rocket South Africa
RBM consumes around 1.8 TWh (Terawatt-hours) per annum, with electricity consumption comprising around 1.6 Mt of CO2e or 80% of annual GHG emissions.
Together, the three projects are expected to reduce RBM's annual Scope 1 and 2 emissions by around 60% (1.4 Mt CO2e) from a 2018 baseline.
About Richards Bay Minerals (RBM)
RBM is a world leader in heavy mineral sands extraction and refining. RBM mines mineral-rich sands in the northern KwaZulu-Natal province and produces materials used in a wide range of everyday products, from paints to smartphones. RBM is committed to sustainable practices and making a positive impact on the communities it serves.
About Red Rocket
Red Rocket is a pioneering Independent Power Producer with the capacity to design, develop, and operate renewable energy assets across solar, wind, and hydro technologies. The journey began in 2011 when Building Energy, an Italian solar EPC company, expanded its business geographically into Africa. In 2019, Red Rocket, a fully integrated IPP on a mission to design, develop, and distribute clean energy in South Africa and beyond, was born out of a buyout of Building Energy's African operations by management. Red Rocket has emerged as a market leader in the renewable energy landscape. Its growth strategy is centred on the pursuit of a diversified portfolio of renewable energy assets, encompassing a wide range of geographical locations, market stages, and currency exposures (ZAR, USD, EUR).
