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The commitment of one of the largest black-empowered businesses listed on the Johannesburg Stock Exchange (JSE) to transition towards a low-carbon future while continuing to meet current energy demands through coal operations took a major leap forward on Thursday through a 213 MW combined wind and solar renewable energy acquisition and maintenance transaction.
In yet another iteration of the commitment to power possibility through a just and inclusive energy transition, JSE-listed Exxaro Resources, through its wholly owned Cennergi subsidiary established in 2012, has entered into binding agreements with Acciona Energía to acquire majority interests in two fully operational renewable energy assets.
These are the 138 MW Gouda Wind Farm in the Western Cape and the 75 MW Sishen Solar Facility in the Northern Cape.
The deal also involves Exxaro's Cennergi being the entity responsible for the operations and maintenance (O&M) of both assets.
The timing linked purchase price will range from between R1.7-billion to R1.8-billion.
The transaction is described as one that strengthens the position of the coal-anchored Exxaro as a growing energy solutions business, as well as in acquisitive growth in energy transition metals.
"Exxaro is not only investing in cleaner energy but also securing long-term, stable, and sustainable value for all our stakeholders," Exxaro CEO Ben Magara emphasised in a release to Mining Weekly.
Both assets were procured under Bid Window 2 of South Africa's Energy's renewable energy independent power producer procurement programme and sell electricity to Eskom under 20-year take-or-pay power purchase agreements, Sishen until 2034 and Gouda until 2035).
Gouda and Sishen are held 54.9% by Acciona Energía, 25.1% by Celenex - a majority owned Royal Bafokeng Holdings subsidiary - 10% by Soul City broad based empowerment company, and 10% by local community trusts.
The transaction includes Acciona's 80% stake in Acciona Energy South Africa O&M, an operations and maintenance company, providing services and parts to both Gouda and Sishen. The remaining 20% stake is owned by Soul City.
This acquisition is set to increase Cennergi's net operating capacity by 117 MW, from 200 MW to approximately 317 MW, representing a material expansion of its operational base.
The acquisition is viewed as accelerating the execution of Exxaro's sustainable growth and Impact strategy by bringing the company closer to its 2030 goal of 1.6 GW managed net renewable energy capacity.
It is also seen as broadening Cennergi's footprint across South Africa and uplifting predictable earnings through long-term, inflation-linked power purchase agreements with South Africa's state-owned power utility Eskom and backed by National Treasury.
Exxaro executive head of energy Leon Groenewald highlighted the geographical diversification and scale that the transaction brings to Cennergi.
"It brings us closer to achieving our goal of reaching 1.6 GW of capacity by 2030. Acquiring the O&M company allows us to provide asset management and O&M services to two additional utility-scale renewable energy assets," Groenewald pointed out.
It also provides skilled staff, advanced systems, and expertise to strengthen Cennergi's position as a South African renewables management and O&M provider.
The transaction closing date, which is expected to occur in the first half of 2026, will coincide with the transfer of ownership of the sale equity to Cennergi.
In addition to coal, Exxaro has equity accounted investments in iron-ore and base metals, with a manganese transaction currently underway.

Empowered Exxaro takes yet another renewables leap with major wind, solar deal

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