According to a July 2022 press release, the Infinity Group and Africa Finance Corporation (AFC) will acquire Lekela Power. Lekela Power is Africa’s largest independent renewable energy producer, with a portfolio of 2.8 GW of projects across Africa.
Lekela Power acquisition
“Our acquisition of Africa’s largest independent power producer in the renewables sector is a major milestone in our strategy for growth across the African continent. We are proud to be playing a key role in contributing to a brighter future for Egypt, South Africa, Senegal and the African continent as a whole,” said Mohamed Mansour, Co-founder and Chairman of the Infinity Group.
According to AFC, the acquired portfolios include Lekela Power’s portfolio of operational wind projects, with over 1 gigawatt of installed capacity and located in South Africa, Egypt and Senegal, and Lekela’s 1.8 GW greenfield project pipeline.
Africa’s energy deficit
“This acquisition marks an important milestone in our journey to build a 3GW renewable energy platform. We are focused on reducing Africa’s massive energy deficit through expanding the quantum of electricity using the various energy sources available throughout the continent. Working together with our partner, Infinity, we aim to more than double the capacity of our joint operating assets over the next 4 years,” said Samaila Zubairu, President and CEO, AFC.
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