Infinity Power, an Egyptian-Emirati energy company, has acquired a 100 per cent share in Lekela Power in Africa, adding 1 GW of renewable capacity to its portfolio. Lekela, which has its headquarters in the Netherlands, has a project pipeline of 1.8 GW and currently manages 1 GW of wind energy projects in South Africa, Egypt, and Senegal.
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Mainstream Renewable Power and investment firm Actis have decided to sell Lekela Power, an African renewable energy platform, for around $1.5 billion. Lekela Power will be purchased by Infinity Group and Africa Finance Corporation (AFC), subject to regulatory approvals and customary closing conditions. Lekela is a pure-play independent power producer of renewable energy and was founded in 2015.
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Actis-backed independent power producer (IPP) Lekela Power and its consortium partners have started commercial operation of its Kangnas wind farm in the Northern Cape Province of South Africa. The consortium partners include Mainstream, African Rainbow Energy and Power (AREP), Kangnas Renewable Energy Community Trust, Old Mutual Life Assurance Company and H1 Holdings.
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