Aggreko–Harmony Gold hybrid power deal: PPA lessons for remote mine planners
Reviewed by Joe Ashwell
First reported on Australian Mining
30 Second Briefing
Aggreko has signed a long-term power purchase agreement with Harmony Gold to build and operate what is billed as Australia’s largest hybrid power facility for the Eva copper mine project in northwest Queensland. The off-grid system is expected to combine high-penetration solar PV with thermal generation and battery energy storage, replacing conventional diesel-heavy supply for the planned open-pit copper operation. For mine planners and owners, the deal signals growing bankability of large-scale hybrid PPAs to cut power costs and emissions on remote greenfield sites.
Technical Brief
- PPA structure transfers design, construction, ownership and operation of the power plant to Aggreko.
- Contract tenure is described as long-term, providing revenue certainty for both the power provider and mine owner.
- Aggreko will integrate solar PV, thermal units and battery storage under a single control and dispatch system.
- System design targets high renewable penetration while maintaining N-1 reliability for critical mining loads.
- Harmony Gold secures fixed or indexed power pricing, de-risking operating cost forecasts for the Eva project.
- Project is timed to align power plant commissioning with pre-production and ramp-up phases of the open-pit operation.
- Deal adds to a growing set of large-scale hybrid PPAs in Australian remote mining, improving bankability benchmarks.
Our Take
Harmony Gold’s Eva copper project in Queensland already has major mine development and equipment contracts in place with Thiess and Metso, so locking in a large hybrid power facility with Aggreko effectively rounds out the core delivery chain for a rapid construction-to-production ramp-up.
Harmony’s planned US$1.6 billion spend at Eva, targeting 100,000 t/y copper when combined with CSA output, means power costs and reliability in Australia will materially influence its copper cost base across the region, giving this hybrid power deal strategic weight beyond a single site utility decision.
Aggreko has been publicly arguing for miners to reduce exposure to volatile fuel prices, and securing Australia’s largest hybrid power facility for a copper–gold project provides a high-profile reference case that could strengthen its pitch to other Australian and African mine operators in our database.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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