ACCIONA Energía has signed an agreement with Cennergi, a subsidiary of Exxaro Resources Limited and one of South Africa’s major renewable energy producers, to sell its stake in two renewable energy projects with a total capacity of 232MW. The transaction has an enterprise value (EV) of €255 million.
Details of the Assets Sold
The projects included in the sale are:
- Gouda Wind Farm – 138MW (operational since 2015)
- Sishen Photovoltaic Plant – 94MWp (operational since 2014)
ACCIONA Energía currently owns 55% of each project through ACCIONA Energía Internacional, along with participation from AXA (20%) and Bestinver Infra FCR (5%). The remaining 45% ownership is divided between:
- Royal Bafokeng Holdings – 25%
- Soul City – 10%
- Community Trust – 10%
The agreement also includes the sale of ACCIONA Energía’s 80% stake in the company responsible for operation and maintenance of both assets.
Financial Impact and Timeline
The transaction is expected to close in 2026, subject to regulatory approvals. It is projected to generate a capital gain of around €65 million. The assets are supported by €100 million in project financing.
Part of Ongoing Asset Rotation Strategy
This sale aligns with the asset rotation strategy announced by ACCIONA Energía in November 2023. Since then, the company has reached deals to sell over 1.4GW of renewable capacity in Costa Rica, Spain, and Peru, valued at over €2 billion. This strategy aims to strengthen the company’s financial position and unlock value from its existing assets.
