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“The DRC and Africa is strategically positioned to play a pivotal role in the global transition to clean energy and decarbonisation."
While demand is increasing, mining companies face challenges in obtaining environmental permits for new projects.
The contract is for a 20-year term and has been designed to scale with the production output of the Molo mine.
Electricity prices have increased six-fold over 10 years and are now the 2nd-largest cost after salaries for electricity intensive mines.
The awarding of preferential bidder status to eight companies earlier this year demonstrated a turning point in perceptions about renewables.
"Our approach reflects the fact that climate change is affecting us all and that navigating the transition is a shared and urgent endeavour.”
The country remains in a favourable position to capitalise on the opportunities presented by the nascent green hydrogen sector.
The transition must support greater investment in renewable energy over time without compromising our energy security.
Grootegeluk Complex will derive long term sustainable benefits; clean electricity supply, energy cost and a reduced carbon footprint.