Name of the Project
Harmony Gold renewable-energy projects.

Location
The first phase of the project will be located in Welkom, in the Free State, in South Africa.

Project Owner/s
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 numerous renewable-energy projects across South Africa.

Phase 1 comprises a 30 MW solar energy plant. We will be constructing 3 x 10MW plants at our Tshepong, Eland and Nyala operations. Phase 1 will be done through a power purchase agreement (PPA) and Harmony is expecting to break ground imminently.

In Phase 2, Harmony will build an additional 137 MW of renewable energy at various longer-life mines. This project will be self-funded and is expected to deliver about R500-million a year in electricity savings when it reaches full production in the 2025 financial year.

In Phase 3, Harmony plans to add an additional 56 MW of renewable energy. It is at the planning stage and progressing as expected.

Potential Job Creation
Not stated.

Capital Expenditure
Phase 1 will be done through PPA and thus not use Harmony capital. Phase 2, however, will be self-funded and is expected to cost about R1.5-billion. At current electricity prices, this project will have a three-year payback.

Planned Start/End Date
Harmony plans to bring the first 30 MW of solar power into production in early 2022 as part of Phase 1.

Phase 2 is expected to reach full production in the 2025 financial year.

Phase 3 is planned for completion in the 2026 financial year.

Latest Developments
Harmony reported in February 2022 that it had received National Energy Regulator of South Africa approvals for all three renewable-energy sites.

Harmony further reported that commercial close for the PPA for Phase 1 was imminent.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Harmony Gold Mining Company group communications manager, Sihle Maake, tel +27 11 411 2312 or email sihle.maake@harmony.co.za
Harmony Gold Mining Company head of investor relations Jared Coetzer, tel +27 11 411 6073 or email jared.coetzer@harmony.co.za.