Get a 360 degree view on a company powered by live data from the GlobalData Intelligence Center.

Gold Fields of South Africa Plans Solar Plant to Cut Carbon Emissions

  • On October 13, 2022, South African mining company Gold Fields announced that 24% of its electricity will come from a new solar power facility at its South Deep mine, located near Johannesburg
  • Meeting the carbon reduction targets will be challenging for mining companies because the national grid in South Africa provides 80% of the electricity used by these companies
  • As Eskom plans to increase power tariff by 32% in April 2023, investing in renewable energy enables miners to reduce emissions while saving money on power

Gold Fields’ New Solar Power Plant

South African miner Gold Fields said on October 13, 2022, that a new solar power plant at its South Deep mine, which is located close to Johannesburg, will provide 24% of its electricity. The miner added that it is also considering wind power as companies across the country look to reduce their reliance on Eskom.

As the electricity that mining companies in South Africa obtain from the national grid is 80% coal-generated, meeting their emission reduction goals will be difficult. Around 93% of South Deep's carbon emissions and 10% of its annual expenses are due to the use of electricity. Solar power generation in South Africa increased significantly in 2022 in comparison to that in 2021, according to GlobalData.

As Eskom plans to increase power rates by 32% in April 2023, investing in renewable energy enables miners to reduce emissions, while saving money on power. Eskom struggles to meet the demand and frequently enforces rolling power cuts, also known as "load-shedding."

According to an official of Gold Fields, the solar plant would produce 103 gigawatt hours (GWh) of electricity annually, which is almost a quarter of the mine's annual power consumption. The company approached Eskom about selling any extra energy back into the system.

South Deep has also begun the environmental permitting procedure for a wind farm. The arrival of the summer rains will be beneficial in clearing the layer of orange dust that the panels accumulated throughout the long, dry winter.

Get a 360 degree view on a company powered by live data from the GlobalData Intelligence Center. Get a 360 degree view on a company powered by live data from the GlobalData Intelligence Center. Explore Company Solutions
Still looking?

Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.

Explorer

Access more premium companies when you subscribe to Explorer