Key Points
- Exxaro acquired majority stakes in Gouda Wind Farm and Sishen Solar Facility.
- Cennergi will operate and maintain both assets, expanding its capacity to 317 MW.
- The deal strengthens Exxaro’s renewable strategy and moves it toward its 2030 target of 1.6 GW.
Exxaro Resources, one of South Africa’s largest black-empowered JSE-listed companies, has made a major move in its transition to low-carbon energy.
On Thursday, the company, through its wholly owned Cennergi subsidiary, signed binding agreements with Acciona Energía to acquire majority stakes in two fully operational renewable energy facilities.
The acquisition includes the 138 MW Gouda Wind Farm in the Western Cape and the 75 MW Sishen Solar Facility in the Northern Cape.
Cennergi will also take over operations and maintenance (O&M) for both assets. The deal, structured as a timing-linked purchase, is valued between R1.7 billion and R1.8 billion.
Long-Term Energy Security and Growth
Exxaro CEO Ben Magara said the transaction ensures long-term, stable, and sustainable value for stakeholders while investing in cleaner energy. “Exxaro is not only investing in cleaner energy but also securing long-term, stable, and sustainable value for all our stakeholders,” he said.
Both Gouda and Sishen were developed under Bid Window 2 of South Africa’s Renewable Energy Independent Power Producer Procurement Programme.
Each facility sells electricity to Eskom under 20-year take-or-pay power purchase agreements, with Sishen contracted until 2034 and Gouda until 2035.
Ownership of the assets prior to the deal was split among Acciona Energía (54.9%), Celenex (25.1%), Soul City (10%), and local community trusts (10%).
The agreement includes Acciona’s 80% stake in Acciona Energy South Africa O&M, which provides services to both facilities, with the remaining 20% owned by Soul City.
Capacity Expansion and Strategic Goals
The acquisition will increase Cennergi’s net operating capacity by 117 MW, from 200 MW to roughly 317 MW. Exxaro sees this as a step toward its 2030 target of 1.6 GW of managed renewable energy capacity.
Exxaro’s executive head of energy, Leon Groenewald, said the transaction broadens Cennergi’s geographic footprint and strengthens its operational scale. “Acquiring the O&M company allows us to provide asset management and O&M services to two additional utility-scale renewable energy assets,” he said.
The move is expected to deliver predictable earnings through long-term, inflation-linked power agreements with Eskom, backed by the National Treasury.
It also provides skilled personnel, advanced systems, and technical expertise to enhance Cennergi’s position as a South African renewables management and O&M provider.
Closing Timeline and Additional Investments
The transaction is expected to close in the first half of 2026, when ownership of the sale equity will transfer to Cennergi. Alongside renewables, Exxaro maintains equity investments in coal, iron ore, and base metals, with a manganese transaction currently in progress.
