Metals and mining private capital investor Appian Capital Advisory has announced that it will acquire the majority shareholding in Rosh Pinah Solar Park (RPSP) from Emesco Energy to exclusively supply clean energy to portfolio company, Rosh Pinah Zinc Corporation, for its mine in Namibia.

Appian says the solar plant will reduce Rosh Pinah Zinc’s cost of energy by 8% for the next 15 years, cover 30% of the mine expansion project’s energy requirements, diversify Rosh Pinah Zinc’s sources of energy and improve price security through a fixed nominal rate offtake agreement.

The solar plant is also expected to improve the mine’s sustainability, reducing its carbon footprint by 14 000 t/y of CO₂ emissions.

As part of the agreement, Appian plans to increase the solar plant’s output from 5.4 MW to 16.3 MW, providing 30% of the energy supply required for Rosh Pinah Zinc’s expansion project, RP2.0.

The solar project will supply clean energy to the mine through a fixed nominal rate 15-year offtake agreement, reducing its cost of energy by 8%.

RP2.0 will deliver an increase in Rosh Pinah Zinc’s ore production from 700 000 t to 1.3-million tonnes of ore a year and is now more than 60% completed.

Appian says the investment in RPSP provides attractive risk-adjusted returns and tangible savings for the mine and Appian.

The transaction is part of Appian’s clean energy strategy, supporting the business’s ambitions to decarbonise its portfolio.

The investment will reduce Rosh Pinah Zinc’s carbon emissions from electricity consumption by 6% and lower its overall carbon emissions by 14 000 t/y, equivalent to planting over 20 000 trees.

Appian says increasing the capacity of the solar plant to 16.3 MW will help to optimise the value of the asset. Emesco Energy will continue to operate the solar plant and develop the expansion.

The project will benefit from cost synergies by leveraging Appian’s management and expertise from existing solar plant operations in Brazil, where 20 solar plants are being developed to support the company’s portfolio in the Minas Gerais region.

Appian is also exploring increasing Rosh Pinah Zinc’s share of energy supplied from the solar project to unlock further cost savings and carbon emissions reductions.

Appian says Namibia has favourable conditions for solar energy production, with a high number of yearly sunshine hours and one of the largest solar energy yields in the world.

Appian’s investment in the project and its clean energy supply will also support Namibia’s energy independence, as the country currently relies on almost 3 000 GWh/y of imports, which accounts for about 75% of its yearly energy use.

“This is an important investment that will support Appian’s decarbonization ambitions and provide tangible cost benefits to Rosh Pinah Zinc, while offering attractive risk-adjusted returns to our investors.

“The project is another important step for Appian’s clean energy strategy following the development of our solar plant operations in Brazil. I look forward to working with our team to deliver on the opportunity this investment offers the business,” says Appian founder and CEO Michael W Scherb.

“This investment by Appian is a pivotal step not only in expanding the RPSP renewable-energy plant but also expanding Namibia’s energy generation sector in general. Emesco looks forward to collaborating with Appian and commends their clear commitment to decarbonise, drive down the cost of energy and increase energy supply diversity within their portfolio,” adds Emesco Energy MD Rinus Strydom.