Padenga Holding, a diverse group, is investing in a solar plant as it moves to green energy and minimises reliance on the national grid. The project corresponds with the company’s commitment to sustainability and environmental responsibility.
The company maintains three crocodile breeding and producing farms in Zimbabwe: Kariba Crocodile Farm, Ume Crocodile Farm, and Nyanya Crocodile Farm.
Dallaglio Investments, a wholly owned subsidiary of Padenga Holdings Limited, is in charge of gold activities. Dallaglio Investments owns the mining leases for the Eureka and Pickstone Peerless Mines. The company is also listed on the Victoria Falls Stock Exchange (VFEX).
Currently, the company is concentrating on power sufficiency utilising green energy on their crocodile operation, which is currently producing 1.2 MW from a solar plant on its crocodile operations and seeks to achieve energy independence, assuring a consistent and reliable supply for its operations.
Solar energy is a clean and renewable source of energy, unlike traditional sources that release harmful pollutants. By adopting solar energy, Padenga Holdings is decreasing its carbon footprint and contributing to a more sustainable future.
In an interview with Padenga Holdings Chief Finance Officer Oliver Kamundimu, he said that, “We have invested quite a bit into that solar plant, and what I can safely say is that we are now producing 1.2 MW of power from our own plant, which is feeding into the grid, and we would like to increase that, especially at our Ume Farm, which currently has a capacity of about 400 KW.
At Ume Farm, we would like to achieve self-sufficiency at that farm so that we can potentially double the production capacity of that solar farm.”
While on the mainland farms of Kariba and Nyanyama, the group intends to boost the electricity from 1.2 MW to 2.5 MW, allowing them to disconnect from the grid and rely on green power.
The group’s investment in a solar installation will result in a 75% reduction in diesel usage. “I think we will reduce diesel consumption from approximately 60 000 litres a month; that will probably go down to 15 000 litres. So we are looking at knowing off 75% of our diesel consumption in the long run,” Kamundimu added.
In other news, the group wants to invest US$40 million in capex budget into the mine division, which is a big investment that might benefit the company’s operations.
Padenga Holding’s commitment to increasing and improving its mining operations, which could lead to improved production, efficiency, and profitability, is shown in the allocation of cash for capital expenditures.
According to the group’s half-year financial report, which ended 30 June 2023, the Dallaglio venture remained one of Zimbabwe’s top three gold producers, providing 1 080kg of the yellow metal, a 16% rise over the same period last year.
The biggest capital project during the review period was the renovation of the underground mine at Pickstone Peerless Mine in Chegutu, with Phase 1 completed in August and commercial production beginning.
