Tata Power exits South African wind power projects


Tata Power exits South African wind power projects

Tata Power has exited its investments in two wind power farms of about 230-MW generation capacity in South Africa for $106 million. The move was in line with the company’s aim to sell sub-optimal international assets, the company said in a statement.

Khopoli Investments Ltd (a 100% subsidiary of Tata Power) announced the execution of 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 ZAR 1,550 million ($106 million), subject to normal working capital and other adjustments.

Cennergi (Pty) Ltd is a 50:50 joint venture between Exxaro Resources Ltd, a leading South African coal producer, and Khopoli Investments Ltd.  Read more

Leave a Reply

Your email address will not be published.