SA energy company looking to boost African asset portfolio
Recently formed African energy company Cennergi is looking to acquire sizeable operational energy-generation assets on the African continent.
The company has indicated that it is seeking established and credible partners across Africa who own profitable, high-quality operational energy-generating assets, not limited to renewables, to boost its asset portfolio on the continent.
“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,” comments 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 aims to focus on cleaner energy technologies, but will also prio- ritise 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,” says Cennergi business development manager Wendy Green.
“We want to participate in all areas of energy generation and are well posi- tioned to do so, considering that our shareholders – Exxaro and Tata Power – boast a combination of access to capital and operational expertise,” she adds.
While Cennergi says its business strategy will include the development of new energy assets, it asserts that there already are 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 our assets from scratch, so we are actively pursuing and scrutinising credible partners,” Cennergi executive committee member and strategic adviser Demetri Pappadopolous says.
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