When it comes to investing in Africa, it’s not all about China.
On Monday India’s Tata Power and South Africa’s Exxaro announced the launch of a joint venture to focus on renewable energy projects, to start in April 2012. The deal brings together India’s largest private sector electricity generator and South Africa’s second biggest coal miner.
To be called Cennergi, the JV will be based in South Africa and look at projects there, and in Botswana and Namibia.
Sipho Nkosi, Exxaro’s chief executive said in a statement that the JV was “created by companies from developing nations to serve developing nations”.
As per the statement:
[Cennergi] will focus on the investigation of feasibility, development, ownership, operation, maintenance, acquisition and management of electricity generation projects… The initial project pipeline focuses on renewable energy projects in South Africa.
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