{"id":292295,"date":"2019-09-18T05:02:00","date_gmt":"2019-09-18T05:02:00","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=292295"},"modified":"2019-09-18T05:02:00","modified_gmt":"2019-09-18T05:02:00","slug":"tata-power-arm-sells-stake-in-s-african-jv-cennergi-for-106-mn","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tata-power-arm-sells-stake-in-s-african-jv-cennergi-for-106-mn\/","title":{"rendered":"Tata Power arm sells stake in S African JV Cennergi for $106 mn"},"content":{"rendered":"<p>MUMBAI : Mumbai: Tata Power Co. Ltd Tuesday said it will exit a South African wind power joint venture by selling its entire stake to a local partner for $106 million. The deal is likely to be completed in the third quarter of this financial year.<\/p>\n<p>Cennergi (Pty) Ltd, which owns two wind power farms totalling nearly 230MW, is an equal joint venture between Exxaro Resources Ltd, a leading South African coal producer, and Khopoli Investments Ltd, a subsidiary of Tata Power. After the transaction, Exxaro will own 100% of Cennergi.<\/p>\n<p>\u201cThe decision to monetize this South African asset is in alignment with our stated strategy to deleverage the balance sheet by divesting sub-optimal size international assets,&#8221; Praveer Sinha, Tata Power\u2019s chief executive officer and managing director said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI : Mumbai: Tata Power Co. Ltd Tuesday said it will exit a South African wind power joint venture by selling its entire stake to a local partner for $106 million. The deal is likely to be completed in the third quarter of this financial year. Cennergi (Pty) Ltd, which owns two wind power farms totalling nearly 230MW, is an equal joint venture between Exxaro Resources Ltd, a leading South African coal producer, and Khopoli Investments Ltd, a subsidiary of Tata Power. After the transaction, Exxaro will own 100% of Cennergi. \u201cThe decision to monetize this South African asset is [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-292295","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/292295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=292295"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/292295\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=292295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=292295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=292295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}