Tata Power Company Ltd.

Tata Power Company’s wholly owned subsidiary -- Khopoli Investments has executed a Share Purchase Agreement with Exxaro Resources for the divestment of its entire 50% stake held in Cennergi, a South African joint venture, for an amount of ZAR 1550 million ($106 million).

Cennergi is a 50:50 joint venture between Exxaro, a leading South African coal producer and Khopoli, a wholly owned subsidiary of the Company. The agreement is likely to be completed by Q3FY20. Post this transaction, Exxaro will have 100% ownership of Cennergi.

Tata Power Company is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.