Ironveld working with Enernet on Rustenburg power plant

12th Sep 2022 16:22

(Sharecast News) - Ironveld announced on Monday that it had been working with the project development and engineering teams from Enernet Global to develop an "optimised hybrid power plant" to deliver clean, reliable and low-cost power for the smelter facility in Rustenburg.

The AIM-traded firm said detailed design was underway for the hybrid system, which would include solar, battery storage and gas generation and would operate in "islanded mode", off the South African grid.

It said Enernet would fully finance the power plant and sell energy through a power purchase agreement to Ironveld.

"The first stage of the service is underway, with a 1MW pre-operations power facility that will enable Ironveld to test and re-commission the smelter," the board said in its statement.

"Enernet will complete installation of the pre-operations power in September."

At 1558 BST, shares in Ironveld were down 1.75% at 0.28p.

Reporting by Josh White at Sharecast.com.