Jubilee Metals signs Power deal with Zambia’s Lunsemfwa Hydro Power Company
Jubilee Metals Group, a diversified metals producer listed on the AIM, has signed a three-year power purchase agreement (PPA) with Lunsemfwa Hydro Power Company (LHPC), an independent producer of hydropower and solar energy in Zambia.
The PPA guarantees that the power needs of Jubilee’s Roan concentrator facility and Sable refinery will be met continuously at competitive rates starting September 1.
Additionally, Jubilee has the option to acquire up to 10 MW of solar-generated power at rates discounted by over 30% from the initial PPA terms.
This agreement secures the company’s future power requirements as it expands its operations. “The implementation of this private PPA is crucial for ensuring a reliable and continuous power supply, addressing current power shortages,” said Jubilee CEO Leon Coetzer.
Coetzer highlighted that the additional 10 MW of power, which can potentially be increased, will support Jubilee’s operational expansion, aiming for a processing capacity of 25,000 tonnes per year of copper. Power security is vital for the successful execution of Jubilee’s Zambian copper strategy.
LHPC operates two hydropower plants in Zambia’s Central province and is a member of the Southern Africa Power Pool. The company is also constructing a 20 MW solar plant to complement its renewable energy portfolio.
The integrated solar and hydro-storage facility is expected to come online within the next 12 months, underscoring Jubilee’s commitment to sustainable energy practices.
