Etana Energy & Sibanye-Stillwater sign 10-year PPA

By Global Infrastructure Sherpa · Feb 9, 2026

Ppa SolarWind signed South Africa

220 MW

Capacity

Etana Energy has signed a 10-year power purchase agreement with Sibanye-Stillwater to supply 220 MW of renewable electricity annually. The agreement is for the supply of wheeled solar and wind power from late 2027, with the aim of reducing electricity costs and carbon emissions for Sibanye-Stillwater's mining operations. The arrangement is structured to integrate with the miner's existing and future power requirements. Chariot Limited, which holds a 34% economic interest in Etana, reported the agreement.

Deal Analysis

Etana Energy's 10-year power purchase agreement (PPA) with Sibanye-Stillwater marks a significant step towards integrating renewable energy into the South African mining sector. The agreement, announced on February 9, 2026, commits Etana Energy to supplying 220 MW of wheeled solar and wind power annually to Sibanye-Stillwater, commencing in late 2027. This arrangement aims to reduce both electricity costs and carbon emissions associated with the miner's operations, aligning with broader sustainability goals. Chariot Limited, holding a 34% economic interest in Etana, reported the agreement, highlighting its strategic importance for their portfolio. The deal is notable for its scale, the involvement of a major mining company like Sibanye-Stillwater, and the structure of the PPA which integrates with the miner's existing and future power requirements. The use of wheeled power is also significant, indicating a sophisticated approach to energy delivery. This PPA demonstrates a growing trend of large industrial consumers in South Africa seeking renewable energy solutions to enhance their operational efficiency and environmental performance. The success of this project could serve as a model for similar agreements in the region.

10-year PPA for 220 MW of renewable energy (solar and wind)
Involves a major mining company, Sibanye-Stillwater, as the offtaker
Utilizes wheeled power, indicating a sophisticated energy delivery approach
Chariot Limited holds a 34% economic interest in Etana Energy

Market Context: South Africa's energy market is undergoing a transition towards renewable sources, driven by factors such as rising electricity costs, environmental concerns, and government policies supporting clean energy. Mining companies, being significant energy consumers, are increasingly exploring PPAs to secure reliable and cost-effective power while reducing their carbon footprint.