Mainstream and Actis Signs Agreement for Sale of Lekela, Africa

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Mainstream Renewable Power is a global wind and solar company. Actis, an international investor in sustainable infrastructure, has signed an agreement to sell Lekela Power to Infinity Group and AFC.

Lekela was established in 2015 to provide reliable, clean energy throughout Africa. Lekela has become the African continent’s largest pure-play renewable energy Independent Power Producer (IPP). The platform includes over 1GW of fully operational wind assets. This includes five South African operational wind farms (624 MW), one in Egypt (252MW), and one in Senegal (159MW). As well as development opportunities in Ghana, Senegal, and Egypt. This platform was created as a joint venture by Actis (60%), and MRPAH (Mainstream Renewable Power Africa Holdings) (40%).

The parties’ Lekela partnership strategy has been successful. It was based on a comprehensive value-creation approach.

Mary Quaney is Group Chief Executive of Mainstream Renewable Power. She stated: “There’s never been a more crucial time to accelerate the global shift to renewable energy for the good of our planet and our people. Much of Africa is extremely vulnerable to climate change. We are proud to have collaborated with Actis as well as the communities and governments across Africa to deliver more than 1GW of operational wind power. This will have a lasting positive impact on the continent for many decades to come.”

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“Our vision envisions a world that is electrified with renewable energy. We, along with strategic shareholders Aker Horizons, Mitsui, are well-positioned to accelerate and lead the transition to renewables on the African continent as well as in global markets. “

Lucy Heintz (Partner and Head of Energy Infrastructure at Actis) said “This exit highlights our hands-on approach as builders and operators for leading energy platforms of scale. This has a positive impact on the company. We are proud to leave Lekela Power well-positioned for its next stage of growth as an acknowledged leader in sustainability supplying clean energy to communities across Africa.”

“With our dedicated sustainability staff, we have focused our efforts on an active ownership approach that allows us to provide a deep commitment to local African communities, environmental protection initiatives, and investing behind the Energy Transition. We also deliver financial performance for our shareholders. “

Mainstream and Actis have been a part of the development, construction, and operations process. They have adhered to their strong sustainable development standards and engaged with local communities.

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Lekela implemented the highest international standards for health, safety, and environmental protection with the support of Mainstream, Actis, and has continued to run a community investment program that funds entrepreneurship, education, and environmental protection initiatives

 Mainstream and Actis announced in June that AelaEnergia, its Chilean joint venture with Mainstream, was sold to Innergex Renewable Energy, a Canadian-listed developer. The Aela Energia transaction was another milestone for Mainstream in accelerating and delivering the transition to renewable energy.  

Clifford Chance & Citibank advised the transaction.

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