Exxaro Expands Renewable Portfolio In South Africa With Majority Stake Acquisition In 213 MW Wind And Solar Assets

Exxaro Resources Limited has announced that it will scale up its renewable energy solutions business through its wholly owned subsidiary, Cennergi, by acquiring majority stakes in two fully operational renewable energy assets in South Africa. The acquisition includes the 138 MW Gouda Wind Farm in the Western Cape and the 75 MW Sishen Solar Facility in the Northern Cape, along with the company responsible for the operations and maintenance of both assets.

Cennergi has entered into binding agreements with Acciona Energía for the transaction, with a timing-linked purchase price expected to range between R1.7 billion and R1.8 billion. Both the wind and solar projects were developed under Bid Window 2 of South Africa’s Renewable Energy Independent Power Producer Procurement Programme and supply electricity to Eskom under 20-year take-or-pay power purchase agreements. The Sishen Solar Facility’s PPA runs until 2034, while the Gouda Wind Farm’s agreement extends until 2035.

Currently, Gouda and Sishen are owned 54.9% by Acciona Energía, 25.1% by Celenex, a majority-owned subsidiary of Royal Bafokeng Holdings, 10% by Soul City Broad-Based Empowerment Company, and 10% by local community trusts. As part of the deal, Cennergi will acquire Acciona’s 80% stake in Acciona Energy South Africa O&M, with the remaining 20% held by Soul City. This operations and maintenance company provides services and spare parts to both renewable energy assets.

Following the acquisition, Cennergi’s net operating capacity will increase by 117 MW, rising from 200 MW to around 317 MW. This marks a significant expansion of its operational portfolio and supports Exxaro’s Sustainable Growth and Impact Strategy. The company is targeting 1.6 GW of managed net renewable energy capacity by 2030.

Exxaro CEO Ben Magara said the acquisition reflects the company’s commitment to a just and inclusive energy transition. He noted that Exxaro continues to strengthen its position as a diversified natural resources company by maintaining a strong coal base while growing its energy solutions business and investing in cleaner energy.

Leon Groenewald, Executive Head of Energy at Exxaro, said the transaction will enhance geographical diversification and add meaningful scale to Cennergi’s operating assets. He also highlighted that acquiring the O&M business will bring skilled staff, systems, and expertise, further strengthening Cennergi’s asset management and O&M capabilities.

Cennergi currently has an additional 180 MW of net capacity under construction. The transaction is expected to close in the first half of 2026, subject to customary regulatory and other approvals.