200 MW solar project is expected to provide approximately
40% of Tronox's South African electricity needs and lower its
worldwide scope 1 & 2 emissions by approximately
13%
Project represents a major step forward by Tronox to meet
its emission reduction targets
STAMFORD, Conn., March 22, 2022 /PRNewswire/ -- Tronox Holdings
plc (NYSE:TROX) ("Tronox" or the "Company"), the world's leading
integrated manufacturer of titanium dioxide pigment, today
announced that it has entered into a long-term power purchase
agreement with the South African independent power producer, SOLA
Group, to provide 200 MW of solar power to Tronox's mines and
smelters in the Republic of South Africa. The Company
anticipates the project should be fully implemented by the fourth
quarter of 2023. Today's announcement is only one example of
numerous projects and investments being pursued by Tronox to meet
its publicly announced goal to align with a global warming scenario
below 2° C and achieve net zero GHG emissions by 2050.
"Tronox's renewable energy project with SOLA Group will reduce
our global carbon emissions by approximately 13% compared to our
2019 baseline and has the full support of our Board of Directors
and senior management," commented Melissa
Zona, Tronox Holdings plc's Senior Vice President, External
Affairs and Chief Sustainability Officer. "This is yet
another example of how Tronox is committed to being a leader when
it comes to corporate sustainability and protection of the
environment. In the past 18 months, we have taken a number of
significant steps that demonstrate this leadership: restructuring
our Board to designate a committee with specific responsibility for
oversight of Environmental Social Governance (ESG); including
annual carbon emission reduction targets in our executive
compensation plan; publicly announcing a detailed roadmap for
reducing emissions, including a target to reduce emissions by 15%
by the fourth quarter of 2025; and, committing to being fully
aligned to both TCFD and SASB reporting for 2021," concluded Ms.
Zona.
The execution of the agreements comes at a time when
South Africa is in need of extra
capacity to be added to its electricity network.
"We are delighted to see that large scale energy consumers like
Tronox are making use of the opportunity to convert to clean and
cost effective energy," says Chris
Haw, Director and co-founder at the SOLA Group. "These types
of projects are the fastest way to bring new generation capacity
online and not only contribute to closing the electricity supply
gap in our country, but also support the much needed transition to
clean energy and modernization of our electricity grid."
Switching from coal-based to renewable power in South Africa is just one way Tronox is
implementing innovative technologies and best practices at its
operating sites to protect our land, water, air and ecosystems and
operate more sustainably. Tronox is also investing in
fundamental research and development to improve its feedstock
upgrading and TiO2 production technologies to reduce
emissions and developing tangible projects to reduce the amount of
solid waste generated and water consumed. Tronox strives to
establish itself as a role model for ESG in the mining and chemical
sector. Through continued investment in emission reduction
projects, Tronox is strengthening its commitment to sustainability
in clear and tangible ways.
About Tronox
Tronox Holdings plc is one of the world's leading producers of
high-quality titanium products, including titanium dioxide pigment,
specialty-grade titanium dioxide products and high-purity titanium
chemicals; and zircon. We mine titanium-bearing mineral sands and
operate upgrading facilities that produce high-grade titanium
feedstock materials, pig iron and other minerals. With
approximately 6,500 employees across six continents, our rich
diversity, unmatched vertical integration model, and unparalleled
operational and technical expertise across the value chain,
position Tronox as the preeminent titanium dioxide producer in the
world. For more information about how our products add brightness
and durability to paints, plastics, paper and other everyday
products, visit tronox.com.
About SOLA Group
SOLA Group is a 100% South African owned vertically integrated
independent power producer offering renewable energy solutions to
the private and public sector in Southern
Africa. Since 2008, SOLA has pioneered the first large
commercial solar projects, both on and off grid, first electricity
wheeling projects and now with Tronox, the first large scale
utility projects for private consumers. With a track record
of over 330MW of operational projects and having developed and been
awarded over 1082 MW of solar assets, SOLA is a market leader in
financed solutions and power purchase agreements for private
off-takers. SOLA's mission is clear: "to transform Africa through clean energy". SOLA believes in
enabling the private market to play its role in the transition away
from fossil fuel based energy sources. SOLA has offices in
Johannesburg, Cape Town and Durban and a presence in five African
countries. Using its core staff of 80 highly experienced
professionals, SOLA is currently implementing over 1GW of awarded
independent power projects for private energy consumers.
Cautionary Statement about
Forward-Looking Statements
Statements in this release that are not historical are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which are subject to known and unknown risks,
uncertainties and assumptions about us, may include projections of
our future financial performance including the effects of the
COVID-19 pandemic and anticipated synergies based on our growth and
other strategies, anticipated completion of extensions and upgrades
to our mining and manufacturing operations, anticipated trends in
our business, anticipated costs and benefits of project newTRON and
Atlas Campaspe and the Company's anticipated capital allocation
strategy. These statements are only predictions based on our
current expectations and projections about future events. There are
important factors that could cause our actual results, level of
activity, performance, actual synergies, or achievements to differ
materially from the results, level of activity, performance,
anticipated synergies or achievements expressed or implied by the
forward-looking statements. Significant risks and uncertainties may
relate to, but are not limited to, business and market disruptions
related to the COVID-19 pandemic, including supply chain
disruptions, market conditions and price volatility for titanium
dioxide, zircon and other feedstock materials, as well as the need
to obtain Board approval for the declaration of future dividends
and the authorization of additional share repurchases, global and
regional economic downturns, including as a result of the COVID-19
pandemic, that adversely affect the demand for our end-use
products; disruptions in production at our mining and manufacturing
facilities; and other financial, economic, competitive,
environmental, political, legal and regulatory factors. These and
other risk factors are discussed in the Company's filings with the
Securities and Exchange Commission.
Moreover, we operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible for our management to predict all risks and
uncertainties, nor can management assess the impact of all factors
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements. Although we
believe the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
level of activity, performance, synergies or achievements. Neither
we nor any other person assumes responsibility for the accuracy or
completeness of any of these forward-looking statements. You should
not rely upon forward-looking statements as predictions of future
events. Unless otherwise required by applicable laws, we undertake
no obligation to update or revise any forward-looking statements,
whether because of new information or future developments.
Media Contact: Melissa Zona
+1.636.751.4057
Investor Contact: Jennifer
Guenther
+1.646.960.6598
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SOURCE Tronox Holdings plc