Tata Power Company has completed the sale of its 50% stake in Cennergi, a South African joint venture with Exxaro Resources, to the latter South African Rands 1,550 million (Rs 660 crore). “The proceeds from such a sale would be re-invested in emerging areas where there is a huge growth opportunity. The company will focus on renewable power, power distribution and service-led businesses in India which will bring in greater value and help us align with the emerging consumer needs,” Praveer Sinha, chief executive officer and managing director of Tata Power, was quoted as saying in a statement.

(Economic Times)