Infinity Power, a joint venture between Egypt’s Infinity and UAE’s Masdar, announced a 100 % acquisition of Lekela Power.
Established in 2015, Lekela is a joint venture between Actis (60 percent), and a Mainstream-led consortium called Mainstream Renewable Power Africa Holdings (‘MRPAH’) (40 percent), to deliver renewable energy across Africa.
The transaction delivers net proceeds to Mainstream of approximately $US90 million, subject to certain closing adjustments. The transaction is estimated at an enterprise value of approximately US$ 1.5 billion.
Lekela has become Africa’s largest renewable energy with over 1 gigawatt of fully-operational wind assets, including five operational wind farms in South Africa, one wind farm in Egypt, and one wind farm in Senegal.
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