Renergen sees share price rise by over 15% after appealing MDPA approval

THE share price of Renergen, JSE-listed owner of South Africa's only onshore gas production facility, increased sharply by over 15% on Thursday after it announced a significant success in an ongoing legal dispute.

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Renergen has successfully appealed a MDPRA (Mineral and Petroleum Resources Development Act) approval that had been granted to another company, Springbok Solar Power Plant (RF).

A dispute had arisen between Renergen subsidiary Tetra4 and RF regarding their solar development encroaching upon Tetra4's production right in Virginia, in the Free State.

Tetra4 had instituted urgent motion proceedings in the High Court of South Africa, Free State Division, seeking an interim interdict restraining the solar developer from proceeding with construction activities.

The matter was heard on February 20, 2025, and judgment has been reserved, with the outcome expected to be announced in due course.