Newcomer Cennergi looking to boost African asset portfolio

15th April 2013 By: Natalie Greve - Creamer Media Contributing Editor Online

Recently formed African energy company Cennergi is looking to acquire sizeable operational energy-generation assets on the African continent.

The company was seeking established and credible partners across Africa who owned profitable, high-quality operational energy-generating assets, not limited to renewables, to boost its asset portfolio on the continent, the company said in a statement on Monday. 

“Cennergi is a long-term player and is serious about investing in Africa on a large scale. We can offer full support and are considering assets in generation,” commented CEO Thomas Garner.

Cennergi launched its operations in the South African renewable-energy sector in 2012 and was awarded the bids for two wind farm projects in the Eastern Cape through the Department of Energy’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). 

The company aimed to focus on cleaner energy technologies, but would also prioritise building a diversified portfolio of energy assets, including coal, gas, hydro, wind and solar.

“While we strongly believe in the REIPPPP in South Africa, we are casting the net wider,” said Cennergi business development manager Wendy Green.

“We want to participate in all areas of energy generation and are well positioned to do so, considering that our shareholders – Exxaro and Tata Power – boast a combination of access to capital and operational expertise,” she added.

While Cennergi said its business strategy would include the development of new energy assets, it asserted that there were already significant, profitable energy operations on the continent that could help establish its business operations on the continent.  

“We have a vision of owning a significant portion of 16 GW of energy assets by 2025, which cannot be achieved by developing all of our assets from scratch, so we are actively pursuing and scrutinising credible partners,” Cennergi executive committee member and strategic adviser Demetri Pappadopolous commented.