Sibanye Stillwater (SBSW) said Friday that it has signed a 138-megawatt renewable energy power purchase agreement with NOA.

The company said that the deal will expand its contracted clean energy portfolio to about 765 MW and strengthen its position as the largest private renewable energy off-taker in South Africa's mining industry.

Under the 10-year agreement, NOA will supply 138 MW per year to Sibanye-Stillwater's South African operations from a portfolio of aggregated solar and wind generation assets, it said.

The additional capacity is expected to reduce Sibanye-Stillwater's greenhouse gas emissions by roughly 433,080 metric tons of CO2 equivalent annually from 2028, it added.