Tata Power completes sale of Cynnergi joint venture in South Africa to Exxaro

摘要

London—India’s Tata Power is no longer a 50% shareholder of joint venture Cynnergi in South Africa following the sale of two of Cynnergi’s wind farms, with a total capacity of 230 MW, which are now under the 100% ownership of South African coal producer Exxaro, the company reported Tuesday. Exxaro – the largest domestic producer of thermal coal in South Africa, with an annual production totaling 45.5 million mt in 2019, and total exports around 9.1 million mt – said in a statement that it is looking to dispose of its total equity interest in Exxaro Coal Central Propriety Limited and its Leeuwpan Coal mine operation and move into renewables in an effort to develop its “sustainable growth approach.”