Indian Power giant Tata Power on 5 March 2012, joined hand with South African firm Exxaro to explore growing opportunities in South African electricity generation market. The 50:50 joint venture energy company called Cennergi would provide Tata Power with an opportunity to explore South Africa’s renewable energy market.
The new company would deal in wind and solar technologies. The joint venture is aimed at gaining the position of leading cleaner energy independent power producer in Southern Africa. The two companies would hold joint managerial and operational control over the company.
The new joint venture is the part of Tata Power’s strategy to explore larger business options in new and emerging markets across the world.
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