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Jubilee, a UK-based diversified metals producer, has signed a three-year power purchase agreement (PPA) with Zambia’s Lunsemfwa Hydro Power Co. The agreement will power two of Jubilee’s sites in Zambia.
Diversified metals producer Jubilee has signed a three-year PPA with Lunsemfwa Hydro Power Co., an independent hydro and solar power producer in Zambia.
Jubilee said the PPA, which is effective from Sept. 1, meets the total power supply needs of its copper concentrate production at its Roan concentrator and its multi-metal Sable refinery at a competitive rate to the prevailing power tariffs.
The agreement also gives Jubilee the option to secure another 10 MW of solar, discounted by more than 30% below the initial PPA power rates.
In June, the Zambian government approved an open-access regime, giving private companies access to the country’s electricity transmission and distribution lines, in a bid to give consumers alternative sources of electricity and encourage the development of power generation. This PPA is one of the first to be signed since the approval of the open-access regime.
“Our Roan operation has been impacted by power shortages, which is comprehensively addressed by this agreement,” said Jubilee CEO Leon Coetzer. “The additional power allocation of 10 MW which holds the potential to be further scaled, ensures that our immediate power demands for our operational expansion targeting 25,000 tonnes of annual copper processing capacity will be met. Security of power supply is a critical factor in the successful roll-out of our Zambian copper strategy.”
Lunsemfwa Hydro Power Co. is currently building a 20 MW project in Zambia. The country’s cumulative installed solar capacity stood at 124 MW at the end of 2023, according to the International Renewable Energy Agency (IRENA). |
