The agreement represents an important milestone in the continued expansion of Release’s mining portfolio in Africa, while also building on Scatec’s established presence and strong track record in Botswana following the successful commissioning of its 120 MW solar portfolio in the country.

The project will provide clean renewable energy to Sandfire’s copper producing asset at Motheo, and support their decarbonisation ambitions.

“This agreement demonstrates the strength of our lease-to-own solution, where we combine technical expertise with flexible financing to enable our clients to access large-scale solar without upfront capital investment. Bringing this solution to Botswana for the first time and in partnership with mining operation Motheo, is a major milestone for our company,” says Hans Olav Kvalvaag, CEO of Release.

Release will now commence project implementation with start of operations expected by the end of 2026. Once operational the plant will generate approximately 40 GWh annually and cover about 30% of Motheo’s annual electricity demand.

For further information, please contact:
For analysts and investors:
Andreas Austrell, SVP Investor Relations
andreas.austrell@scatec.com
+47 974 38 686

For media:
Meera Bhatia, SVP External Affairs & Communications
meera.bhatia@scatec.com
+47 468 44 959

About Release
Designed to overcome financial and technical barriers associated with adopting solar energy, Release is a flexible leasing agreement of re-deployable solar PV and battery equipment to deliver a low cost, clean, and reliable power solution. Release is owned by Scatec (68%) and Climate Fund Managers (32%) via its EU-supported Climate Investor One Fund, a USD 1 billion blended finance facility focused on renewable energy infrastructure in emerging markets. To learn more, visit: www.releasesolar.com

About Sandfire Resources
Sandfire has grown to be a global copper producer of significance and continues to make strong progress toward its goal of being a sustainable mining company. Sandfire is headquartered in Perth, Western Australia and is listed on the Australian Securities Exchange (ASX). Its principal operating assets are the MATSA Copper Operations (MATSA) in Spain and the Motheo Copper Operations (Motheo) in Botswana. Sandfire holds an 87% stake in the Toronto Stock Exchange-listed Sandfire Resources America, which owns a 100% interest in the Black Butte Copper Project in central Montana in the United States.