Exxaro bolsters green energy investment with controlling stake in Cennergi
SA's largest coal miner will acquire the remaining 50% of the wind power producer
SA’s largest coal miner, Exxaro Resources, is bolstering its investment in wind power in a R1.55bn deal as it seeks to diversify away from fossil fuels, which are falling out of favour with investors.
On Tuesday, Exxaro announced it would acquire the remaining 50% stake in Cennergi, its joint venture with a subsidiary of India’s Tata Power company. Once the deal is concluded Exxaro will have 100% ownership of Cennergi, which owns two wind farms in the Eastern Cape...