Jubilee Metals Group PLC (JUBPF), a metals producer, Tuesday said it has signed a three-year renewable power purchase agreement with Zambian hydro and solar power producer Lunsemfwa Hydro Power Company (LHPC). Leon Coetzer, CEO of Jubilee said, "Our Roan operation has been impacted by power shortages, which is comprehensively addressed by this agreement."
Financial terms of the agreement have not been divulged.
Jubilee Metals said in a statement that the power purchase agreement helps meet its power supply needs of both Roan and Sable at competitive rates to the prevailing power tariffs, commencing on 1 September 2024.
The agreement also allows Jubilee the option to secure a further 10MW of solar power at a discount of more than 30 percent on the initial power purchase agreement power rates.
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