Tata Power exits South African JV 'Cennergi' for $106 mn

Tata Power announced on Tuesday that it sold its entire 50% stake in Cennergi, a South African joint venture, for $106 million. The entire stake will be acquired by Exxaro Resources, which owns the other 50% of Cennergi. The agreement is likely to be completed by the third quarter of FY20. Cennergi owns two wind power farms in South Africa.