Acciona Energía has signed an agreement with Cennergi, a subsidiary of Exxaro Resources Limited, to transfer its majority stake in two renewable energy facilities located in South Africa. This project is the Gouda wind farm wind farm(138 MW) and the Sishen solar photovoltaic plant (94 MWp), both of which have been in operation for almost a decade.
The details of the Acciona Energía sale agreement
The transaction represents a combined enterprise value of 255 million euros and also includes Acciona Energía ‘s 80% stake in the company in charge of operating and maintaining both assets. With this divestment, the company will continue to execute its global asset rotation strategy.
The company currently controls 55% of each of the projects through its international subsidiary, while the remainder is distributed among South African entities such as Royal Bafokeng Holdings, Soul City and Community Trust. The transaction is subject to the necessary regulatory approvals and is expected to close in 2026.
The sale will also generate a capital gain of approximately 65 million euros, in addition to allowing Acciona Energía to strengthen its liquidity through the crystallization of the value of its assets. The projects have structured financing of 100 million euros, which has contributed to maintaining their profitability since their inception.
This agreement is part of a broader strategy announced by the company in November 2023, which has also contemplated the sale of facilities in Costa Rica, Spain and Peru, accumulating more than 2 billion euros in agreements for 1.4 GW of renewable capacity.
For Cennergi, the agreement represents an expansion of its sustainable generation portfolio. As a subsidiary of Exxaro Resources, the company has been consolidating its position as one of the strategic players in the development of clean energy.
Source and photo: Acciona Energía