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Stock impact report

Coal Miner Starts Building South Africa's Biggest Wind Farm [Financial Post (Toronto, Ontario, Canada)]

STANDARD BANK GRP SP/ADR (SGBLY) 
NASDAQ:AMEX Investor Relations: reporting.standardbank.com
Company Research Source: Financial Post
Author of the article: (Bloomberg) — Coal producer Seriti Resources has started building South Africa's largest wind farm, as the country's mining industry seeks to cut its reliance on troubled state-owned power utility Eskom Holdings SOC Ltd. South Africa plans to transition to cleaner-energy sources from the most polluting fossil fuel, but faces the additional challenge of cushioning the blow to communities dependent on coal mines for jobs. The 155-megawatt wind farm, 20 kilometers (12 miles) from Seriti's New Denmark mine, will help smooth that transformation as it creates as many as 800 jobs, according to the company's head of green energy, Peter Venn. Article content Article content While grid capacity is saturated in many parts of the country, the coal-rich province of Mpumalanga has a surplus of connections that can be exploited by a mining sector. The new wind farm should be completed in the first quarter of 2026, helping to plug a shortfall as Eskom's aging coal-fi Show less Read more
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