DRDGOLD Sells Stellar Energy Solutions to NOA Group, Secures Renewable Energy Supply Agreement
DRDGOLD has sold its 100% stake in Stellar Energy Solutions to NOA Group for R147.5 million, while securing a renewable energy supply agreement with NOA for 76 GWh per year starting January 2028. The transaction aligns with DRDGOLD's sustainability goals as it develops a 150 MWh solar plant and has already commissioned a 60 MWh solar plant and a 160 MWh battery storage system. The company is investing R8 billion over three years to enhance its operations and achieve its Vision 2028 growth strategy, targeting an annual gold production of 6 tons.
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DRDGOLD has sold its 100% interest in Stellar Energy Solutions to NOA Group Assets for R147.5 million. NOA, a South African renewable energy producer led by CEO Karel Cornelissen, holds a trading license from the National Energy Regulator of South Africa.
DRDGOLD is developing a 150 MWh solar plant in Polokwane, Limpopo, which is shovel-ready with most licenses obtained. The company also commissioned a 60 MWh solar plant and a 160 MWh battery storage system at its Ergo operation, providing 12 hours of off-grid power daily.
Concurrently, DRDGOLD signed a renewable energy supply agreement with NOA for 76 GWh per year starting January 2028, supporting its sustainability objectives and Vision 2028 growth strategy, which aims for 6 t of gold production annually. DRDGOLD is investing R8 billion over three years to enhance its operations and extend their lifespan.
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