Tata Power and South African-based diversified resources company Exxaro Resources have formed a joint venture to focus on power generation projects in that country.
Tata Power said the 50:50 joint venture formed through its subsidiary Khopoli Investments, 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.
Mr Anil Sardana, Managing Director, Tata Power, said, “The joint venture is consistent with our strategy of pursuing growth opportunities for energy development in potential markets. We look forward to working together with Exxaro to 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 responsible contribution in this high potential region.”
Mr Sipho Nkosi, Exxaro’s Chief Executive Officer, said “We expect Cennergi to play a key role in the African electricity generation market. Cennergi aims to be the leading cleaner energy independent power producer (IPP) in Southern Africa, serving an expanding energy market. 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.”