- Infinity Power has acquired 100% shareholding of Lekela Power, an Africa based wind power platform.
- Transaction makes Infinity Power Africa’s largest pure play renewable power company.
- The combined operational portfolio of Infinity Power now stands at 1.3GW with a strong pipeline of 13.8 GW.
- Transaction delivers on Infinity Power’s COP27 promise of being fastest growing renewable energy company in Africa.
- Infinity Power is joint venture between Egypt’s Infinity and the UAE’s Masdar, one of the world’s fastest-growing clean energy companies.
Infinity Power, a joint venture between Egypt’s Infinity and UAE’s Masdar, announced today it has completed the acquisition of the entire shareholding of Lekela Power. The deal was first announced in July 2022. Read more
The transaction makes Infinity Power the largest renewable energy company on the African continent. Infinity’s key stakeholders include Africa Finance Corporation (AFC) and European Bank for Reconstruction and Development (EBRD).
Lekela currently operates 1 gigawatt (GW) of wind power projects in South Africa, Egypt and Senegal, and has a 1.8 GW project pipeline, which are in various stages of development.
The transaction was funded through equity investment from shareholders and debt from Absa Corporate and Investment Banking (Absa CIB) and The Mauritius Commercial Bank Limited (MCB).
Author: Bryan Groenendaal
