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• In a major overseas foray, Tata Power on Monday announced a joint venture with South Africa's Exxaro to develop generation projects in the African continent, as the domestic power sector grapples with multiple woes like fuel shortage and environmental hurdles.Tata Power, the country's largest private power producer, along with diversified group Exxaro Resources has created 50:50 joint venture entity 'Cennergi (Pty) Ltd'."The joint venture today submitted bids for five projects -- wind and solar -- in South Africa," Tata Power Managing Director Anil Sardana said.

• Cennergi would focus on investigation of "feasibility, development, ownership, operation, maintenance, acquisition and management of electricity generation projects in South Africa, Botswana and Namibia".The joint venture marks a major overseas foray for Tata Power, which like many other domestic peers, is battling high coal prices.At present, Tata Power is developing a geothermal power project in Indonesia as well as stakes in two coal mines there. The entity along with Norway's SN Power is also developing an 880 MW hydro project in Nepal.

• Sardana said South Africa-based Cennergi would also look at "coal as well as coal bed methane-based power projects".Cennergi, formed between Tata Power's subsidiary Khopoli Investments Ltd and partner Exxaro, would be officially launched from April 2012."Tata Power is happy to pursue new avenues in the international space by partnering with good local entities. The joint venture is consistent with our strategy of pursuing growth opportunities for energy development in potential markets," Sardana said.

• Exxaro's CEO Sipho Nkosi said Cennergi is expected to play a key role in African electricity generation market.Tata Power has a generation capacity of about 4,772 MW.In February, Sardana said that Tata Power was becoming very active internationally, both for projects as well as resources.He had also pointed out that his company cannot "keep waiting" for issues to get resolved in the Indian power sector."If we do not find issues getting resolved quickly here, it is not that we will keep waiting. We will go ahead and invest elsewhere," he had noted.Meanwhile, costly Indonesian coal has put a question mark over the viability of Tata Power's 4,000 MW Mundra ultra mega project which was bagged through a competitive bidding.

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