ACCIONA Energía sells two assests in South Africa to Cennergi

ACCIONA Energía has reached an agreement with Cennergi, Exxaro Resources Limited’s wholly owned subsidiary and one of South Africa’s leading renewable energy producers, for the sale of its stake in two renewable energy assets totaling 232MW of capacity, for an enterprise value (EV) of €255 million (US$296 million). The two projects are the Gouda wind farm (138MW) and the Sishen photovoltaic plant (94MWp), which have been in operation since 2015 and 2014, respectively. ACCIONA Energía owns 55% of each project through ACCIONA Energía Internacional –a company in which AXA (20%) and Bestinver Infra FCR (5%) also participate–, while the remaining 45% is held by Royal Bafokeng Holdings (25%), Soul City (10%) and Community Trust (10%). 

The transaction also includes ACCIONA Energía’s 80% stake in the company responsible for the operation and maintenance of both projects. It is expected to close in 2026, subject to customary regulatory approvals, and to generate a capital gain of around €65 million (US$75 million). The assets are backed by project financing of €100 million (US$116 million).