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Anglo American, EDF To Form New Company To Develop Renewable Energy Ecosystem In South Africa

Anglo American Plc (AAUKY.PK,AAL.L) and EDF Renewables agreed to form a new jointly owned company, Envusa Energy, to develop a regional renewable energy ecosystem or "RREE" in South Africa.

As part of the deal, Envusa Energy is launching a mature pipeline of more than 600 MW of wind and solar projects in South Africa. It is a major first step towards the development of an ecosystem that is expected to generate 3-5 GW of renewable energy by 2030.

The first phase of Envusa Energy's renewables projects is expected to be fully funded and ready for construction to begin in 2023.

Envusa Energy is expected to supply Anglo American with a blend of renewable energy generated on Anglo American's sites and renewable energy transmitted via the national grid.

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