Johannesburg, South Africa — ESI-AFRICA.COM — 05 March 2012 – South African-based diversified resources company Exxaro Resources Limited (Exxaro) and The Tata Power Company Limited (Tata Power), of India, through its subsidiary Khopoli Investments, have formed a 50:50 joint venture to create a new energy company, Cennergi (Pty) Limited (Cennergi).
Cennergi, which will be based in South Africa, will focus on the investigation of feasibility, development, ownership, operation, maintenance, acquisition and management of electricity generation projects in South Africa, Botswana and Namibia. The initial project pipeline focuses on renewable energy projects in South Africa, and Cennergi’ s strategy is to create a balanced portfolio of generation assets.
“Cennergi has been created by companies from developing nations to serve developing nations. We expect Cennergi to play a key role in the African electricity generation market,” said Exxaro CEO Sipho Nkosi.
“Cennergi aims to be the leading cleaner energy independent power producer (IPP) in Southern Africa, serving an expanding energy market. The company’s diverse project portfolio confirms its commitment to both people and planet. Through Cennergi we will be powering progress in the areas in which we operate. This partnership with Tata Power will add the skills and capabilities necessary to create a world class energy company in this region with enormous growth opportunities”, he added.
Commenting on the development, Tata Power managing director Anil Sardana said: “Tata Power is happy to explore new avenues in the international space by partnering with good local entities. This joint venture is consistent with our strategy of pursuing exploration opportunities for energy development in growing markets.We look forward to working together with Exxaro to jointly develop efficient, high-quality and sustainable projects that will bring significant benefits to the region, as well as local communities. Through this partnership, we will be able to pursue business opportunities holistically and make a responsible contribution in this high potential region.”
Cennergi will be officially launched in April 2012.