Top coal miners consider bids for South African renewables firm
Exxaro Resources and Thungela Resources, South Africa’s two largest coal miners, are considering bids for Actis’ BTE Renewables, according to people with knowledge of the matter.
Chinese firms are also interested in acquiring the assets, said the people who asked not to be identified as the information is private. Actis is seeking about $800-million for the company, the people said.
From Australia to South Africa, companies and governments are looking to expand into cleaner projects in a bid to cut emissions and reduce their dependence on the dirtiest fuel. BTE generates 436 MW of electricity from its solar and wind-power plants in South Africa and Kenya, according to the company’s website.
Exxaro, Thungela and Actis declined to comment about the potential deal.
Deliberations are ongoing and the companies could decide not to proceed with the bidding process, the people said. Actis could also retain the asset for longer, they added.
South Africa, the continent’s most-industrialised nation, generates the majority of its power from coal and is attempting to accelerate development of green energy. Companies are also considering their own generation due to the unreliability of supply from state-owned Eskom Holdings.
Actis, which appointed Citigroup Inc. to advise on the deal, is looking to cash in on a booming market for new power projects across Africa, where demand for electricity is growing. The London-based private equity firm sold a majority stake in Lekela Power earlier this year.
Comments
Research Reports
Projects
Latest News
Showroom
FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...
VISIT SHOWROOM
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
