With Synergy acting as Financial Advisor, Cennergi (Exxaro subsidiary) successfully achieved Financial Close on the 68 MW Lephalale Solar Project in South Africa.
Synergy Consulting is honored to support Cennergi Holdings Limited in the overall management of the financing process for the Lephalale Solar Project in South Africa. Cennergi is a wholly-owned subsidiary of Exxaro Resources Limited (Exxaro). Synergy provided financial advisory services, including negotiation of project and finance documents, raising financing for the project, supporting in internal approvals, and other related workstreams.
The Project achieved Commercial Close on April 4, 2023, and has achieved Financial Close on June 29, 2023. Financed by Nedbank Limited and Standard Bank, the Project is expected to commence commercial operations in Q1 of CY2025. Once operational, the Project will help generate and supply ~170 million kilowatt-hours of electricity annually to Exxaroβs Grootegeluk mine and is expected to reduce Exxaroβs Scope 2 emissions by c.26% and also electricity cost.
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