Photo by: Bloomberg
NYSE-listed titanium dioxide pigment manufacturer Tronox Holdings has entered into a long-term power purchase agreement with independent power producer (IPP) SOLA Group to provide 200 MW of solar power to Tronox's mines and smelters in South Africa.
The renewable energy project is expected to be implemented by the fourth quarter of 2023.
“Tronox’s renewable energy project with SOLA Group will reduce our global carbon emissions by about 13% compared with our 2019 baseline. This is yet another example of how Tronox is committed to being a leader when it comes to corporate sustainability and protection of the environment.
"In the past 18 months, we have taken a number of significant steps that demonstrate this leadership: restructuring our board to designate a committee with specific responsibility for oversight of environmental, social and governance; including annual carbon emission reduction targets in our executive compensation plan; publicly announcing a detailed roadmap for reducing emissions, including a target to reduce emissions by 15% by the fourth quarter of 2025; and, committing to being fully aligned to both Task Force on Climate Related Financial Disclosures and Sustainability Accounting Standards Board reporting for 2021,” comments Tronox senior VP of external affairs and chief sustainability officer Melissa Zona.
SOLA Group co-founder and director Chris Haw says the IPP is delighted that large-scale energy consumers like Tronox are making use of the opportunity to convert to clean and cost-effective energy.
“These types of projects are the fastest way to bring new generation capacity online and not only contribute to closing the electricity supply gap in our country, but also support the much-needed transition to clean energy and the modernisation of our electricity grid,” he adds.
Tronox's KZN Sands minerals sands operation, in South Africa, consists of the Fairbreeze mine, near Richards Bay, and the Central Processing Complex, in Empangeni.