Page 14 - AfrElec Week 29 2022
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AfrElec RENEWABLES AfrElec
Mainstream, Actis to sell African
IPP to Infinity Group, AFC
SOUTH AFRICA MAINSTREAM Renewable Power, a global Lekela, following a comprehensive value crea-
wind and solar company, and Actis, a global tion approach.
investor in sustainable infrastructure, have “Much of Africa is acutely vulnerable to cli-
announced an agreement to sell the Lekela mate change, and we are proud to have worked
Power platform to Egyptian renewable energy with Actis, as well as the communities, govern-
company Infinity Group and the Africa Finance ments, project lenders, equipment suppliers
Corporation (AFC). and contractors across Africa, to deliver over 1
The transaction is expected to generate net GW of operational wind power that will con-
proceeds to Mainstream of $90mn with the tinue to have a positive impact for decades to
transaction valued at an enterprise value of come,” Mainstream Group chief executive Mary
approximately $1.5bn. Quaney said.
Lekela, established in 2015 as a joint venture “Our vision is of a world electrified by renew-
between Actis (60%) and Mainstream Renew- able energy. Together with our strategic share-
able Power Africa Holdings (40%) to deliver holders Aker Horizons and Mitsui, we are well
clean, reliable energy across Africa, is billed positioned to lead and truly accelerate the tran-
as the continent’s largest pure-play renewable sition to renewables in South Africa, across the
energy Independent Power Producer (IPP). African continent and in markets globally,” she
The Lekela platform consists of over 1 GW said.
of fully operational wind assets, including five In June, Mainstream and Actis announced
operational wind farms in South Africa (624 the completion of the sale of its Chilean joint
MW), one operational wind farm in Egypt (252 venture, Aela Energía, to the Canadian-listed
MW) and another in Senegal (159 MW), as well developer Innergex Renewable Energy. The Aela
as development opportunities in those latter two Energía transaction was another milestone for
countries, and Ghana. Mainstream in accelerating and delivering the
The planned exit reflects the successful cul- transition to renewable energy.
mination of the parties’ partnership strategy for
P14 www. NEWSBASE .com Week 28 14•July•2022
