Good morning,
Please see following Exxaro and Tata Power joint news release. For enquiries please contact Ernst Venter, details below.
Kind regards,
NEWS RELEASE
5 March 2012
EXXARO AND TATA POWER form JOINT VENTURE Company
South African-based diversified resources company Exxaro Resources Limited (Exxaro) and The Tata Power Company Limited (Tata Power), of India, through its subsidiary Khopoli Investments, have formed a 50:50 joint venture to create a new energy company, Cennergi (Pty) Limited (Cennergi).
Cennergi, which will be based in South Africa, will focus on the investigation of feasibility, development, ownership, operation, maintenance, acquisition and management of electricity generation projects in South Africa, Botswana and Namibia. The initial project pipeline focuses on renewable energy projects in South Africa and Cennergi? s strategy is to create a balanced portfolio of generation assets.
?Cennergi has been created by companies from developing nations to serve developing nations. We expect Cennergi to play a key role in the African electricity generation market,? said Sipho Nkosi, Exxaro?s chief executive officer.
?Cennergi aims to be the leading cleaner energy independent power producer (IPP) in Southern Africa, serving an expanding energy market. The company?s diverse project portfolio confirms its commitment to both people and planet. Through Cennergi we will be powering progress in the areas in which we operate. This partnership with Tata Power will add the skills and capabilities necessary to create a world class energy company in this region with enormous growth opportunities?, he added.
Commenting on the development, Anil Sardana, managing director, Tata Power, said: ?Tata Power is happy to explore new avenues in the international space by partnering with good local entities. The joint venture is consistent with our strategy of pursuing exploration opportunities for energy development in growing markets.We look forward to working together with Exxaro to jointly develop efficient, high-quality and sustainable projects that will bring significant benefits to the region as well as local communities. Through this partnership, we will be able to pursue business opportunities holistically and make a responsible contribution in this high potential region.?
Cennergi will be officially launched in April 2012.
ENDS
About Exxaro
Exxaro is one of South Africa?s largest BEE diversified resources companies. It has a diverse and world-class commodity portfolio in coal, mineral sands and base metals, with exposure to iron ore through a 20% interest in Sishen Iron Ore Company. As the second-largest South African coal producer with capacity of 45 million tonnes per annum and the third-largest global producer of mineral sands, Exxaro is a significant participant in the coal and mineral sands markets and provides a unique listed investment opportunity into these commodities. Additionally Exxaro is well positioned to grow domestically. Its existing operational interests in Australia and China and strong project pipeline also provide a base for growth in international markets.
www.exxaro.com
Enquiries:
Ernst Venter
Executive General Manager: Business Growth
Tel: + 27 12 307 4322
Tel: + 27 (0) 83 609 1313
Email: ernst.venter@exxaro.com
About Tata Power
Tata Power is India's largest private sector power utility with an installed generation capacity of about 4772MW and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. The Company has successful public-private partnerships in Generation, Transmission and Distribution - "North Delhi Power Limited" with Delhi Vidyut Board for distribution in North Delhi, 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050MW Mega Power Project at Jharkhand. It has acquired 30% stake in Coal Companies at Indonesia and is developing the first 4000MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With its track record of technology leadership, customer care and redefining contours of the Indian power sector, Tata Power is poised for a five-fold growth and committed to 'lighting up lives' for generations to come.
www.tatapower.com
Enquiries:
Shalini Singh Monica Sondhi / Lennon D?Souza
Chief, Corporate Communications Rediffusion / Edelman
The Tata Power Company Limited +917738066622/9619763172
Phone: 6665 8748 monica.sondhi@edelman.com /
Email: shalinis@tatapower.com lennon.dsouza@edelman.com
--------------------------------------------------------------------------------------------------------
This e-mail is confidential and is for the addressee only.
Please refer to http://www.exxaro.com/content/main/disclaimer.asp for important disclaimers.