Infinity Power, a joint venture between Egypt’s Infinity and United Arab Emirates’s Masdar, has announced that it has completed the acquisition of the entire shareholding of Lekela Power.
Lekela was established in 2015 in a joint venture between Actis and a Mainstream-led consortium called Mainstream Renewable Power Africa Holdings to deliver clean, reliable energy across Africa. Lekela currently operates 1 GW of wind power projects in South Africa, Egypt, and Senegal, and has a 1.8 GW project pipeline, which is in various stages of development. The transaction makes Infinity Power the largest renewable energy company in the African continent. The exit reflects the successful culmination of Actis and Mainstream’s partnership strategy for Lekela, following a comprehensive value creation approach.