ACCIONA Energía has reached an agreement with Cennergi, Exxaro Resources Ltd’s wholly owned subsidiary and one of South Africa’s leading renewable energy producers, for the sale of its stake in two renewable energy assets totalling 232 MW of capacity, for an enterprise value of €255 million.
The two projects are Gouda wind farm (138 MW) and Sishen photovoltaic (PV) plant (94 MWp), which have been in operation since 2015 and 2014 respectively. ACCIONA Energía owns 55% of each project through ACCIONA Energía Internacional (a company in which AXA [20%] and Bestinver Infra FCR [5%] also participate), while the remaining 45% is held by Royal Bafokeng Holdings (25%), Soul City (10%), and Community Trust (10%).
The transaction also includes ACCIONA Energía’s 80% stake in the company responsible for the operation and maintenance of both projects. It is expected to close in 2026, subject to customary regulatory approvals, and to generate a capital gain of around €65 million. The assets are backed by project financing of €100 million.
This transaction is yet another step forward in the asset rotation strategy announced by ACCIONA Energía in November 2023. Since then, the company has reached agreements to sell more than 1.4 GW of renewable capacity in Costa Rica, Spain, and Peru for more than €2 billion, highlighting the attractiveness of its assets in the market and strengthening its financial position through value crystallisation.
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