A black-controlled energy company moving towards a just energy transition At Seriti we understand the challenges Africa faces and remain committed to energy solutions that work for the continent and communities where we operate. Seriti is a broad based, 91% black owned and controlled South African energy company co-owned by four black anchor shareholders, Masimong Group, Thebe Investments, Zungu Investments (Zico) and Community Investment Holdings (CIH).
With Dr Anna Mokgokong and Mike Teke respectively as Chair and CEO at the helm, the company is directed by a board and management team who collectively have significant and relevant experience in the acquisition, operation and development of large-scale, world-class energy solutions.
"Seriti started as a coal business, but now it is an energy company" Commitment to a just energy transition Coal has played a fundamental role in advancing industrial development across South Africa's economy, and remains an integral part of our energy future. The latest Integrated Resource Plan indicates that from 2019 about 72% of our electricity was generated by coal. By 2030, only 43% of our electricity will be coal generated. The remaining 57% will come from solar, wind, hydro, nuclear and other clean forms of energy. Seriti fully embraces this transition, and is committed to playing an active role in managing the just energy transition to a lower carbon future, while conserving livelihoods and unlocking Africa's renewable energy potential.
The Seriti journey We are on a journey towards fulfilling the urgent need to supply solutions that meet current and future energy demands – and the obligation to move to a low carbon future.
2018 Acquisition of Eskom-tied domestic thermal coal mines from Anglo American Seriti completed the purchase of New Vaal, New Denmark, and Kriel mines from Anglo American, as well as various mine life-extension projects and closed mines. The three mines supply approximately 24Mtpa of thermal coal to Eskom's Lethabo, Tutuka and Kriel power stations, which collectively account for almost a quarter of South Africa's current power supply.
2021 Seriti concludes acquisition of SAEC from South32 Seriti Resources' acquisition of South32 SA Coal Holdings Proprietary Limited (SAEC) was fulfilled, and the sale was completed on 1 June 2021. The new shareholders of 100% of SAEC are Seriti Resources (90%), and the Employee and Community Trusts (5% each). The acquisition made Seriti a major supplier to Eskom and exporter of thermal coal.
2022 Acquisition of Windlab Africa's 3.5 GW renewable assets Seriti Resources acquired a majority stake in Windlab Africa's wind and solar-powered assets through its subsidiary Seriti Green, as it seeks to lower its carbon footprint and ensure long-term sustainability as a diversified energy producer. This is a significant step in the development of Seriti Green, which was announced in November 2021. Windlab Africa consists of 100% of Windlab South Africa and 75% of Windlab East Africa. Seriti Green is owned by a consortium of strategic shareholders with Seriti Resources holding a 54.19% controlling interest, alongside VennEnergy (15%), RMB (15.41%) and Standard Bank (15.41%) collectively taking up the remaining stake.
2023 Seriti to construct 155 MW wind farm in Mpumalanga In February 2023, Seriti Resources and its renewable energy subsidiary, Seriti Green, announced that Seriti Green will soon begin construction on South Africa's largest wind farm in Mpumalanga, with power supply coming online by 2025. This followed the signing of heads of terms between Seriti Resources and Seriti Green to a Power Purchase Agreement (PPA) for 155 MW of power that will be generated by Seriti Green and wheeled through the national grid to Seriti Resources' coal mining operations.
2023 Seriti's Klipspruit Colliery moves from Opencast to Underground In April 2023, Seriti broke ground on a new project that will switch the Klipspruit colliery from opencast to underground mining, giving the operation a 25-year life-of-mine extension. Planned production from the underground mining will be around 4.5 million tons a year. The underground extension is expected to reach full production by the third quarter of 2023.
#J-18808-Ljbffr
