ACCIONA Energía has agreed to sell its stake in two long-standing renewable energy projects in South Africa to Cennergi, the wholly owned renewable energy subsidiary of mining giant Exxaro Resources.
The transaction valued at an enterprise value (EV) of €255 million covers a combined 232 MW of operational wind and solar capacity and marks another strategic step in ACCIONA’s global asset rotation programme.
The sale includes ACCIONA’s 55% shareholding in the 138 MW Gouda wind farm and the 94 MW Sishen solar photovoltaic plant, both of which have been delivering clean power to South Africa’s grid for close to a decade.
Gouda began operations in 2015, while Sishen has been functional since 2014. The remaining ownership in both assets is held by Royal Bafokeng Holdings (25%), Soul City (10%), and a Community Trust (10%), reflecting South Africa’s emphasis on community and broad-based participation in REIPPPP projects.
ACCIONA will also divest its 80% stake in the operations and maintenance company responsible for managing both sites. The deal is expected to close in 2026 following regulatory approvals, generating an estimated capital gain of €65 million for ACCIONA Energía. The assets currently carry project-level financing of approximately €100 million.
Why ACCIONA Is Selling – and Why Cennergi Is Buying
The transaction forms part of ACCIONA Energía’s asset rotation strategy announced in late 2023, aimed at unlocking capital from mature assets and reinvesting in new global growth opportunities. Since the strategy began, the company has agreed to sell more than 1.4 GW of renewable assets in Costa Rica, Spain, and Peru, generating over €2 billion.
The sale of the South African portfolio further strengthens ACCIONA’s liquidity while demonstrating strong investor appetite for established, well-performing renewable assets.
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For Cennergi, the acquisition supports its growing ambition to expand its renewable footprint and solidify its position as one of South Africa’s leading independent power producers. The addition of two fully operational projects adds immediate scale, predictable revenue, and a strengthened role in supporting national energy security at a time when South Africa is aggressively expanding private-sector participation in clean energy.
This deal comes at a critical moment for South Africa’s energy market. The country is moving ahead with new policies designed to accelerate grid development, encourage private investment, and address chronic supply shortages.
Mature asset acquisitions like Cennergi’s purchase from ACCIONA signal increasing confidence in the stability and long-term value of South Africa’s renewable energy sector.
Industry analysts note that international investors remain highly interested in South African assets, but many are now adopting “rotate-and-reinvest” strategies, focusing on new greenfield opportunities while selling operational plants to long-term infrastructure owners.
As South Africa prepares for significant grid upgrades and new rounds of renewable procurement, the ACCIONA–Cennergi deal highlights a growing trend: mature assets are becoming valuable trading instruments, attracting buyers looking for immediate operational capacity and stable returns.
This is a company press release that is not part of editorial content. No journalist of Africa Digest News was involved in the publication of this release.
