- UK investment company Actis has confirmed the sale of Lekela Power.
The Amsterdam-based Dutch renewable energy producer is at the centre of a transaction that will result in a shareholder change. Its current shareholders, British investment firm Actis and independent power producer (IPP) Mainstream Renewable Power, have decided to sell Lekela to Cairo-based Infinity Energy and Lagos-based Africa Finance Corporation (AFC).
The sale of Lekela has been confirmed, but it has not yet taken effect. According to Actis, the transaction still requires regulatory approvals with customary closing conditions.” The planned exit reflects the successful completion of Lekela’s partnership strategy, which followed a holistic approach to value creation,” the British investor continues. Citi and Clifford Chance advised on the transaction.
To date, Lekela Power has a portfolio of 1 GW of fully operational wind assets, including five active wind farms in South Africa (624 MW), one operational wind farm in Egypt (252 MW), one operational wind farm in Senegal (159 MW) and development opportunities in Ghana, Senegal and Egypt.
“The acquisition of Lekela is a key milestone for Infinity, as it not only becomes the largest acquisition of its kind in the continent’s history but also signifies the continued growth and expansion of Infinity’s efforts to create a sustainable supply of clean, green energy,” said Nayer Fouad, Infinity’s co-founder, president and CEO.