Ivanhoe Mines Energy, subsidiary of Ivanhoe Mines and sister company of Kamoa Copper SA, will supply renewable hydropower to the Kamoa-Kakula Copper Mine in the Kolwezi District of Lualabla in the Democratic Republic of Congo (DRC). The Canadian mining company has extended an existing financial agreement with DRC’s state-owned power utility company, La Société National d’ Électricité (SNEL) to upgrade Turbine 5 at the Inga II hydropower facility.
The Turbine 5 upgrade is expected to generate an additional 162 MW of hydropower, which, combined with 78 MW of hydropower generated by the Mwadingusha Hydropower Plant, will provide a total 240 MW of renewable energy to the Kamoa-Kakula Copper Mine. The upgrades will also include work on the Inga-Kolwezi transmission line terminal equipment, which is expected to increase its transfer capacity by at least 200 MW.
Co-Chairs for Ivanhoe Mines Energy, Robert Friedland and Yufeng “Miles” Sun, stated on 16 August that the financing agreement is in line with the Memorandum of Understanding, signed in April 2021, to establish a public private partnership signed with SNEL to provide the mine with clean energy.
The financial agreement stipulates that upgrades to the facilities will be financed by Kamoa Copper’s holding company, Kamoa Holding, through a loan to SNEL. The loan will be repaid through a deduction of monthly power bills incurred over the duration of the loan.
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