Acciona Energia has agreed to sell its stake in two South African renewable assets totalling 232MW to Cennergi for an enterprise value of €255 million.
The company said the projects are the 138MW Gouda wind farm (pictured) and the 94MWp Sishen photovoltaic plant, which have been operating since 2015 and 2014 respectively.
Acciona Energia owns 55% of each project through Acciona Energia Internacional, while Royal Bafokeng Holdings, Soul City and Community Trust hold the remaining 45%.
The transaction also includes Acciona Energia’s 80% stake in the company responsible for operating and maintaining both projects.
It is expected to close in 2026 and to generate a capital gain of around €65 million, according to the company.
Acciona Energia said the assets are backed by €100 million of project financing.
The company added that the sale forms part of its asset rotation strategy announced in 2023, under which it has agreed to sell more than 1.4GW of capacity in Costa Rica, Spain and Peru for over €2 billion.