Page 12 - AfrElec Week 39 2022

AfrElec RENEWABLES AfrElec

SA’s Exxaro, mull bids for green

energy firm BTE Renewables

SOUTH AFRICA SOUTH Africa’s two biggest coal miners, Exx- could keep the asset for longer.
aro Resources (Exxaro) and Thungela Resources South Africa, the continent’s most-industri-
(Thungela) are reportedly considering bids for alised nation, generates about 80% of its power
a major renewable energies producer on the from coal but is attempting to accelerate the
continent. development of green energy. It has potential
Bloomberg, on September 29 cited anon- to generate around 40,000MW, but because the
ymous sources intimating that the Johannes- coal facilities are aged and often break down, the
burg-listed miners are keen to snap up BTE country generally produces around 50% of it. As
Renewables, owned by Actis LLP (Actis) of a result it rations electricity, sometimes for up to
London. 12 hours daily.
Some Chinese firms are also interested in Companies are also investing in own genera-
acquiring the assets, said the people who asked tion due to the unreliability of supply from state-
not to be identified. They added that Actis is owned Eskom.
seeking about $800mn for the company that “Actis, which appointed Citigroup Inc. to
produces 436MW of power from its wind and advise on the deal, is looking to cash in on a

solar power facilities in South Africa and Kenya. booming market for new power projects across
Exxaro, Thungela and Actis did not respond Africa, where demand for electricity is growing.
when Bloomberg contacted them for comment, The London-based private equity firm sold a
but the news agency noted that negotiations are majority stake in Lekela Power earlier this year,”
underway. The sources further said they could according to Bloomberg.™
decide to withdraw from the bidding while Actis

P12 www. NEWSBASE .com Week 39 29•September•2022