Name of the Project
Harmony Gold renewable-energy programme.

Location
The programme covers several Harmony operations in South Africa. Phase 1 is located at Harmony’s Tshepong, Eland and Nyala operations, in the Free State. Sungazer 2 is located at Moab Khotsong/Great Noligwa, in the North West.

Project Owner/s
Gold mining specialist Harmony Gold Mining Company.

Project Description
As part of its decarbonisation strategy and journey towards carbon net zero, Harmony is accelerating the expansion and roll-out of renewable-energy projects across South Africa.

Phase 1, known as Sungazer 1, comprises three 10 MW solar PV plants at Tshepong, Eland and Nyala. Harmony’s current roll-out plan shows the generation of 70 GWh/y from this phase and an estimated reduction of 49 000 t/y CO₂e.

Phase 2, known as Sungazer 2, is a 100 MW solar PV project at Moab Khotsong. It is expected to generate about 230 GWh/y and reduce emissions by about 163 000 t/y CO₂e.

Further planned solar capacity includes Sungazer 3 and 3-Ext, with combined installed capacity of 108 MW and expected generation of 253 GWh/y, and Sungazer 4, with installed capacity of 100 MW and expected generation of 230 GWh/y.

The programme also includes a wheeled-wind component of 260 MW, expected to generate 900 GWh/y, and separate short-term power purchase agreement (PPA) capacity of 200 MW, expected to generate 500 GWh/y.

Potential Job Creation
The engineering, procurement and construction contract (EPC) for the solar plants and associated infrastructure will create employment and procurement opportunities for local host communities within the Matlosana and Moqhaka (Ramolutsi) local municipalities and surrounding areas.

Capital Expenditure
The total project capital is budgeted at about R2-billion and will be partially funded through Harmony’s existing green loan facility.

Phase 1 was undertaken through a PPA and, therefore, did not require Harmony capital.

The roll-out of Phase 2 is expected to cost about R1.7-billion for the first 100 MW. Harmony’s 2025 financial report records R1.004-billion in additions for Sungazer 2, and its presentation for the six months ended December 31, 2025, shows that R446-million was deployed at the 100 MW Sungazer 2 solar plant.

Phase 3 will not require Harmony capital, as the plants will be built and operated by independent power producers.

Planned Start/End Date
Phase 1 was commissioned in August 2023.

Construction of Sungazer 2 started in the 2025 financial year, with yearly energy generation expected from the 2027 financial year.

Sungazer 3 and 3-Ext are shown in Harmony’s renewable-energy roadmap for the half-year ended December 31, 2025, as starting production in the 2028/29 financial year.

Sungazer 4 and the wheeled-wind component are shown as part of the 2029 financial year items in the roadmap. 

Latest Developments
Harmony’s current renewable-energy roadmap targets more than 500 MW of solar and wind capacity. Its half-year presentation also includes 200 MW of short-term PPA capacity as a separate item. The capacity is shown as applying from the 2027 to 2030 financial years.

In the 2025 financial year, Sungazer 1 and Harmony’s smaller solar PV plants generated 64.3 GWh. Harmony also reported further capital deployment at Sungazer 2 in the six months to December 31, 2025.

Key Contracts, Suppliers and Consultants
Harmony, Energy Group and BBEnergy (Phase 1 construction); and OptiPower and the Cox Group (OptiPower and the Cox Group).

Contact Details for Project Information
Harmony Gold Mining Company head of investor relations Jared Coetzer, tel +27 11 411 6073 or email jared.coetzer@harmony.co.za.