Tata Power Subsidiary to exit 50% ownership of Cennergi

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Khopoli Investments Ltd. (a 100% subsidiary of Tata Power) has executed a Share Purchase Agreement with Exxaro Resources Ltd. for the divestment of the company’s entire 50% stake in Cennergi, a South African joint venture, for an amount of ZAR1,550 million (US$106 million).

The agreement will be subject to, amongst others, normal regulatory approvals customary for this type of transaction. Cennergi (Pty) Ltd. is a 50:50 joint venture between Exxaro Resources Ltd. and Khopoli Investments Ltd.

Under the Agreement, Exxaro will acquire the entire 50% shareholding of Khopoli Investments Ltd. The Agreement is to be completed by Q3 2020. Post this transaction, Exxaro will have 100% ownership of Cennergi.

Cennergi in turn owns two wind farms in South Africa - Amakhala Emoyeni (with a generation capacity of 134.4 MW and 95% shareholding) and Tsitsikamma Community Wind Farm (with a generation capacity of 95.3 MW and 75% shareholding). Each project has a 20-year Power Purchase Agreement (PPA) with the State power utility Eskom.

List of the country updates

Country updates

  • September 24, 2019

    Reatile concludes investment in juwi’s solar PV Operations & Maintenance business

    juwi Renewable Energies has concluded a second investment transaction with Reatile Renewables, whereby Reatile has taken up a 43% equity stake in juwi’s solar PV Operations & Maintenance bus...

    Read more
  • September 19, 2019

    South African team completes the construction of the first turbine for 110 MW Perdekraal East wind project in Africa

    Perdekraal East Wind Farm celebrated the erection of its first wind turbine, a pivotal point in the construction process and one that has been successfully undertaken by a South African team. The Per...

    Read more
  • September 09, 2019

    UKCI invests in 250 MW of South African wind projects

    UK Climate Investments has agreed to invest around GBP14 million (US$16.9 million) to support development of 250 MW of wind projects in South Africa. The investment programme will fund developer H1 H...

    Read more
  • September 06, 2019

    ACWA Power closes signs debt financing for Redstone CSP

    ACWA Power has closed the debt financing with eighth lenders for a US$710 million package for the development of the  100 MW Redstone Concentrated Solar Power project in South Africa. In July 20...

    Read more
  • September 05, 2019

    Final close reached for Evolution II Fund

    Evolution II fund has reached final close with raising a total of US$ 216 million. After the first close, the fund has secured US$ 87.75 million in commitments from CDC Group, Cyane Holdings, the Euro...

    Read more

Share this update