- Infinity and AFC intend to continue operations and aim for a portfolio size of 3GW.
- Lekela holds over 1GW of fully operational wind assets across the continent.
Infinity Group (Infinity) and AFC have purchased Africa’s largest pure-play renewable power independent power producer (IPP), Lekela. The IPP has over 1GW of fully operational wind assets, including five working wind farms in South Africa (624MW), one active wind farm in Egypt (252MW), and one operational wind farm in Senegal (159MW), as well as development opportunities in Ghana, Senegal, and Egypt.
Lekela was first established as part of a joint venture between Actis (60%) and Mainstream Renewable Power Africa Holdings, a Mainstream-led consortium (40%). The exit was planned and reflected the culmination of their partnership strategy for Lekela, which had seen the producer’s value skyrocket in recent years. Infinity and AFC intend to continue generation expansion, aiming for a portfolio size of 3GW overall.
Mohamed Ismail Mansour, co-founder and chairman at Infinity, said: “Our acquisition of Africa’s largest independent power producer in the renewables sector is a major milestone in our strategy for growth across the African continent. We are proud to be playing a key role in contributing to a brighter future for Egypt, South Africa, Senegal and the African continent as a whole.”