Based on analyst estimates that it costs around 11 million rand to build each megawatt of an industrial solar plant, the project overall would be worth around 1.1 billion rand ($72 million). The companies together hold a 20% stake in the project. Grupo Cobra and SENER, which were the engineering, procurement and construction companies for Ilanga, did not respond to emails seeking comment. Grupo Solar and SENER have hired bankers for the transaction, the sources said, in line with their strategies to exit minority stakes in up and running assets. JOHANNESBURG, Nov 3 (Reuters) - Spain's Grupo Cobra and SENER companies are seeking to exit their stake in the 100-megawatt (MW) Ilanga solar power plant, which supplies electricity to South Africa's national grid, two sources with knowledge of the process told Reuters.
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