Lekela Power

UAE and Egypt Advance Development of Africa's Biggest Wind Farm

Retrieved on: 
Tuesday, June 6, 2023
New and Renewable Energy Authority, Paris, Paris Agreement, COP28, Partnership, Justice, Infinity Power Chutes, United States Department of Justice Civil Division, ABU, Adani Transmission, Lekela Power, Carbon, 2022 United Nations Climate Change Conference, Wind, Ministry of Electricity and Renewable Energy (Egypt), Climate change, COP27, UN, Natural gas, Infinity, Global North and Global South, Ministry of Industry and Advanced Technology (United Arab Emirates), PJSC, Farm, Renewable energy, Electricity, Emirates, African, Masdar

The wind farm will also help Egypt meet its strategic objective of sourcing 42 percent of its energy from renewables by 2030.

Key Points: 
  • The wind farm will also help Egypt meet its strategic objective of sourcing 42 percent of its energy from renewables by 2030.
  • The 10 GW plant will save the North African nation an estimated US$ 5 billion in natural gas costs a year.
  • As the UAE's flagship renewable energy company, Masdar's role demonstrates its deep and lasting commitment towards supporting African nations such as Egypt to meet their ambitious renewable energy objectives.
  • Egypt is the Middle East and North Africa's most populous country and has an abundance of renewable energy sources, including wind and solar.

UAE and Egypt Advance Development of Africa's Biggest Wind Farm

Retrieved on: 
Tuesday, June 6, 2023
New and Renewable Energy Authority, Paris, Paris Agreement, COP28, Partnership, Justice, Infinity Power Chutes, United States Department of Justice Civil Division, ABU, Adani Transmission, Lekela Power, Carbon, 2022 United Nations Climate Change Conference, Wind, Ministry of Electricity and Renewable Energy (Egypt), Climate change, COP27, UN, Natural gas, Infinity, Global North and Global South, Ministry of Industry and Advanced Technology (United Arab Emirates), PJSC, Farm, Renewable energy, Electricity, Emirates, African, Masdar

The wind farm will also help Egypt meet its strategic objective of sourcing 42 percent of its energy from renewables by 2030.

Key Points: 
  • The wind farm will also help Egypt meet its strategic objective of sourcing 42 percent of its energy from renewables by 2030.
  • The 10 GW plant will save the North African nation an estimated US$ 5 billion in natural gas costs a year.
  • As the UAE's flagship renewable energy company, Masdar's role demonstrates its deep and lasting commitment towards supporting African nations such as Egypt to meet their ambitious renewable energy objectives.
  • Egypt is the Middle East and North Africa's most populous country and has an abundance of renewable energy sources, including wind and solar.

EQS-News: The Mauritius Commercial Bank Limited supported Infinity Renewable Energy BV on the acquisition financing for its landmark purchase of Lekela Power, Africa’s largest renewable energy platform

Retrieved on: 
Friday, March 24, 2023
LLP, AFC, Reconstruction, Mauritius Commercial Bank, Infinity Power Chutes, Electricity, Africa Finance Corporation, Lekela Power, MCB, Carbon, EBRD, Acquisition, Bracewell, MLA, COP27, Infinity, International Bank for Reconstruction and Development, European Central Bank, Renewable energy, African

The Mauritius Commercial Bank Limited supported Infinity Renewable Energy BV on the acquisition financing for its landmark purchase of Lekela Power, Africa’s largest renewable energy platform

Key Points: 
  • The Mauritius Commercial Bank Limited supported Infinity Renewable Energy BV on the acquisition financing for its landmark purchase of Lekela Power, Africa’s largest renewable energy platform
    The issuer is solely responsible for the content of this announcement.
  • The Mauritius Commercial Bank Limited supported Infinity Renewable Energy BV on the acquisition financing for its landmark purchase of Lekela Power, Africa’s largest renewable energy platform
    The Mauritius Commercial Bank Limited (“MCB”) ( www.MCB.mu ) is pleased to announce that it has acted as joint Mandated Lead Arranger (MLA) in relation to an initial senior loan facility to support Infinity Power on its acquisition of Lekela Power.
  • The transaction makes Infinity Power the largest renewable energy company on the African continent.
  • Established in 2015, Lekela Power was a joint venture between Actis (60%) and Mainstream Renewable Power Africa Holdings (40%).

Infinity Power Finalizes Acquisition of Lekela Power in Africa's Biggest Renewable Energy Deal

Retrieved on: 
Monday, March 20, 2023
COP28, AFC, Eddie O'Connor (businessman), Reconstruction, Energy, Infinity Power Chutes, Ernst & Young, Electricity, Africa Finance Corporation, ABU, International Renewable Energy Agency, MCB, Carbon, Wind, EBRD, Infinity Group, European Bank for Reconstruction and Development, Acquisition, AFRY, COP27, IRENA, Economic development, Solar energy, Ministry of Industry and Advanced Technology (United Arab Emirates), Growth, Climate, Ecosystem, European Central Bank, CO2, Renewable energy, Lekela Power, African, Masdar, Infinity

Infinity Power has acquired 100% shareholding of Lekela Power, an Africa based wind power platform

Key Points: 
  • Infinity Power has acquired 100% shareholding of Lekela Power, an Africa based wind power platform
    Infinity Power is joint venture between Egypt's Infinity and the UAE's Masdar, one of the world's fastest-growing clean energy companies
    ABU DHABI, UAE, March 20, 2023 /PRNewswire/ -- Infinity Power, a joint venture between Egypt's Infinity and UAE's Masdar, announced today it has completed the acquisition of the entire shareholding of Lekela Power.
  • Nayer Fouad, CEO, Infinity Power, said, "We are very pleased to welcome Lekela Power into the Infinity Power family and look forward to building this next chapter together.
  • Mohamed Jameel Al Ramahi, CEO, Masdar, said, "This landmark acquisition of Lekela Power will position our Infinity Power joint venture as the market leader in Africa, and is also recognition of the continent's tremendous renewable energy potential.
  • Infinity Power was established in 2020 to develop utility-scale and distributed solar energy and wind power projects in Africa.

Infinity Power Finalizes Acquisition of Lekela Power in Africa's Biggest Renewable Energy Deal

Retrieved on: 
Monday, March 20, 2023
COP28, AFC, Eddie O'Connor (businessman), Reconstruction, Energy, Infinity Power Chutes, Ernst & Young, Electricity, Africa Finance Corporation, ABU, International Renewable Energy Agency, MCB, Carbon, Wind, EBRD, Infinity Group, European Bank for Reconstruction and Development, Acquisition, AFRY, COP27, IRENA, Economic development, Solar energy, Ministry of Industry and Advanced Technology (United Arab Emirates), Growth, Climate, Ecosystem, European Central Bank, CO2, Renewable energy, Lekela Power, African, Masdar, Infinity

Infinity Power has acquired 100% shareholding of Lekela Power, an Africa based wind power platform

Key Points: 
  • Infinity Power has acquired 100% shareholding of Lekela Power, an Africa based wind power platform
    Infinity Power is joint venture between Egypt's Infinity and the UAE's Masdar, one of the world's fastest-growing clean energy companies
    ABU DHABI, UAE, March 20, 2023 /PRNewswire/ -- Infinity Power, a joint venture between Egypt's Infinity and UAE's Masdar, announced today it has completed the acquisition of the entire shareholding of Lekela Power.
  • Nayer Fouad, CEO, Infinity Power, said, "We are very pleased to welcome Lekela Power into the Infinity Power family and look forward to building this next chapter together.
  • Mohamed Jameel Al Ramahi, CEO, Masdar, said, "This landmark acquisition of Lekela Power will position our Infinity Power joint venture as the market leader in Africa, and is also recognition of the continent's tremendous renewable energy potential.
  • Infinity Power was established in 2020 to develop utility-scale and distributed solar energy and wind power projects in Africa.

Mainstream Renewable Power and Actis complete sale of Lekela Power

Retrieved on: 
Monday, March 20, 2023
Partnership, Eddie O'Connor (businessman), GW, Infinity Power Chutes, Lekela Power, Sale, Wind, Mainstream, Citigroup, Entrepreneurship, IPP, Infinity, Health, Safety, Farm, Bank, Renewable energy

Mainstream and Actis today announced the completion of the sale of 100 percent of the Lekela platform to Infinity Power, a joint venture between Egypt's Infinity and UAE's Masdar.

Key Points: 
  • Mainstream and Actis today announced the completion of the sale of 100 percent of the Lekela platform to Infinity Power, a joint venture between Egypt's Infinity and UAE's Masdar.
  • Lekela was established in 2015 in a joint venture between Actis (60 percent), and a Mainstream-led consortium called Mainstream Renewable Power Africa Holdings ('MRPAH') (40 percent), to deliver clean, reliable energy across Africa.
  • The exit reflects the successful culmination of Actis and Mainstream's partnership strategy for Lekela, following a comprehensive value creation approach.
  • Citi and Clifford Chance advised Mainstream and Actis on the Lekela transaction.

Mainstream Renewable Power and Actis complete sale of Lekela Power

Retrieved on: 
Monday, March 20, 2023
Partnership, Eddie O'Connor (businessman), GW, Infinity Power Chutes, Lekela Power, Sale, Wind, Mainstream, Citigroup, Entrepreneurship, IPP, Infinity, Health, Safety, Farm, Bank, Renewable energy

Mainstream and Actis today announced the completion of the sale of 100 percent of the Lekela platform to Infinity Power, a joint venture between Egypt's Infinity and UAE's Masdar.

Key Points: 
  • Mainstream and Actis today announced the completion of the sale of 100 percent of the Lekela platform to Infinity Power, a joint venture between Egypt's Infinity and UAE's Masdar.
  • Lekela was established in 2015 in a joint venture between Actis (60 percent), and a Mainstream-led consortium called Mainstream Renewable Power Africa Holdings ('MRPAH') (40 percent), to deliver clean, reliable energy across Africa.
  • The exit reflects the successful culmination of Actis and Mainstream's partnership strategy for Lekela, following a comprehensive value creation approach.
  • Citi and Clifford Chance advised Mainstream and Actis on the Lekela transaction.