- Actis and Mainstream Renewable Power (‘Mainstream’) have signed an agreement to sell Lekela Power (‘Lekela’) to Infinity Group and Africa Finance Corporation (‘AFC’).
- This planned exit reflects the successful culmination of Actis and Mainstream’s partnership strategy for Lekela, with the platform consisting of a leading management team, over 1GW of fully operational assets and significant growth prospects
Actis, a global investor in sustainable infrastructure and Mainstream, the global wind and solar company, have signed an agreement to sell the Lekela platform to Infinity Group and AFC, subject to regulatory approvals and customary closing conditions.
Established in 2015 to deliver clean, reliable energy across Africa, Lekela has become the African continent’s largest pure play renewable energy Independent Power Producer (‘IPP’). The platform consists of over 1 GW of fully operational wind assets, including five operational wind farms in South Africa (624MW), one operational wind farm in Egypt (252MW), one operational wind farm in Senegal (159MW) as well as development opportunities in Ghana, Senegal and Egypt.
The platform was established as part of a joint venture between Actis (60%), and a Mainstream-led consortium called Mainstream Renewable Power Africa Holdings (‘MRPAH’) (40%). The planned exit reflects the successful culmination of their partnership strategy for Lekela, following a comprehensive value creation approach.
In June, Actis and Mainstream announced the completion of the sale of its Chilean joint venture, Aela Energía, to the Canadian-listed developer Innergex Renewable Energy, another milestone deal and proof of Actis and Mainstream’s leading role in accelerating and delivering the transition to renewable energy.
Author: Bryan Groenendaal