Priya PatelTLDR:
- Envusa Energy completes project finance for South African wind and solar projects
- Anglo American’s renewable energy venture with EDF Renewables, Envusa Energy, secures project financing for three wind and solar projects in South Africa.
Envusa Energy, a joint venture between Anglo American and EDF Renewables, has successfully completed project financing for three wind and solar projects in South Africa. These projects, known as the Koruson 2 cluster, will have a total capacity of 520 MW and are located on the border of the Northern and Eastern Cape provinces of South Africa. The financing structure reflects the high quality of the renewable energy infrastructure assets.
The Koruson 2 projects are expected to play a pivotal role in reducing Anglo American’s Scope 2 emissions and enhancing energy reliability and grid resilience in South Africa. The projects have strong yield resources and a robust Eskom grid connection, leading to substantial cost savings compared to existing tariffs.
Anglo American’s three businesses in South Africa have committed to long-term offtake agreements with Envusa Energy, with commercial operations set to begin in 2026. The projects aim to abate approximately 2.2 million tpy of carbon dioxide and support Anglo American’s goal of carbon neutrality by 2040.
Envusa Energy plans to develop a renewable energy ecosystem that will supply renewable energy generated on Anglo American’s sites and from other locations transmitted via the national grid. The company also aims to explore various black economic empowerment and community partnership models to share benefits with local communities along the value chain.
In collaboration with EDF Renewables, Envusa Energy’s long-term goal is to roll out 3 to 5 GW of wind, solar, and storage projects by 2030. The financial close of the initial cluster of projects marks a significant step in supporting Anglo American’s global decarbonization journey and South Africa’s transition to a resilient and clean energy future.
Envusa Energy’s commitment to supporting a just energy transition aligns with EDF Group’s CAP 2030 strategy, focusing on doubling net renewable installed energy capacity globally by 2030. The company’s efforts are aimed at building a more collaborative and inclusive economy that prioritizes shared prosperity and sustainable development.
