Copper 360 takes steps to secure wind energy for its Northern Cape projects

7th February 2025 By: Darren Parker - Creamer Media Senior Contributing Editor Online

Copper 360 takes steps to secure wind energy for its Northern Cape projects

JSE-listed copper producer Copper 360 has concluded an agreement with Mulilo Renewable Project Developments to acquire 100% of Mulilo Springbok Wind Power (MSWP).

MSWP is the owner of a project to establish a 55 MW wind energy generation facility in the Springbok area, in the Northern Cape province. The project is at an advanced stage with regard to feasibility studies, technical documentation and engineering plans.

Copper 360 said on January 22 that an attractive feature of the project was its fully authorised environmental-impact assessments and other relevant clearances, permits and land leases that were already in place.

Studies indicate that the intended location of the generation facility is favourable in terms of wind profiles.

The purchase consideration comprises an initial cash payment of R5-million, with deferred cash payments of R1-million for each megawatt of installed capacity, payable as capacity is installed.

The company said there were no conditions precedent and that the acquisition was therefore expected to be completed during the first week of February.

Copper 360 said it had a strategic objective to achieve energy security as it grew its core copper-producing business through its cluster mining model, and to do so in an environmentally responsible manner using renewable energy.

The acquisition will provide the company with a platform to generate renewable power to meet the increasing energy needs of the copper-producing business in a cost- effective manner.