{"id":546974,"date":"2022-06-05T04:07:45","date_gmt":"2022-06-05T04:07:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/"},"modified":"2022-06-05T04:07:45","modified_gmt":"2022-06-05T04:07:45","slug":"lekela-could-be-about-to-get-egyptian-emirati-owners","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/","title":{"rendered":"Lekela could be about to get Egyptian + Emirati owners"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Infinity + Masdar to take majority stake in Lekela? <\/strong>Renewable energy player Infinity and Emirati firm <a href=\"https:\/\/masdar.ae\/\">Masdar<\/a> are close to acquiring Actis\u2019 majority stake in Lekela Power in a transaction that could be worth almost USD 1 bn, <a href=\"https:\/\/www.reuters.com\/markets\/deals\/exclusive-uae-egypt-consortium-set-buy-african-renewables-firm-lekela-sources-2022-06-02\/\">Reuters<\/a> reports, citing three sources it says are familiar with the matter. Our friends at Infinity declined to comment when we reached out yesterday. Lekela and Actis did not immediately return calls asking for comment.<\/p>\n<p><strong>Actis\u2019 60% stake in Lekela has been in high demand: <\/strong>South African mining firm Exxaro, Chinese state fund CNIC and African Infrastructure Investment Managers \u2014 a unit of pan-African financial services outfit Old Mutual \u2014 were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7930b05c-8650-45aa-ae77-0991be2b63bf\">reported to be bidding<\/a> for the private equity firm\u2019s stake in February. CDC Group\u2019s Globeleq and Chinese oil and gas giant Sinopec were also in the running, the newswire reported yesterday.<\/p>\n<p><strong>Lekela has a presence in Egypt<\/strong>, and operates the 250 MW wind farm in West Bakr which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5c730b4-4705-43f2-bfea-72fc0ba4e2db\">went live in November<\/a>. The company has more than 1 GW of wind plants in its portfolio, across Egypt, South Africa and Senegal, and is currently developing a 225 MW project in Ghana.<\/p>\n<p><strong>Masdar has a footprint in Egypt<\/strong>, currently operating a number of smaller-scale solar projects around the country. The Mubadala-owned company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37c6713c-597a-4ba6-adb3-ab0228f7231c\">recently signed a MoU<\/a> alongside Hassan Allam Utilities to establish green hydrogen plants with a combined capacity of up to 480k tons a year.<\/p>\n<p><strong>We could hear something in the coming weeks:<\/strong> The acquisition is currently awaiting regulatory approvals and is set to be announced within the coming weeks, sources told Reuters.<\/p>\n<p><strong>Lekela isn\u2019t the only renewables player Actis is looking to exit:<\/strong> Actis is searching for a buyer for its stake in Africa-focused renewables firm <a href=\"https:\/\/bterenewables.com\/\">BioTherm Energy<\/a> (BTE) Renewables with the door for nonbinding offers closing this week, sources tell Reuters. The company has over 400 MW of solar and wind plants in Kenya and South Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Infinity + Masdar to take majority stake in Lekela? Renewable energy player Infinity and Emirati firm Masdar are close to acquiring Actis\u2019 majority stake in Lekela Power in a transaction that could be worth almost USD 1 bn, Reuters reports, citing three sources it says are familiar with the matter. Our friends at Infinity declined [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":546975,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[93,72,334,921,7128,151,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-energy","tag-enterpriseam","tag-infinity","tag-lekela-power","tag-ma-watch","tag-renewables","tag-uae","wpautop","entry"],"acf":{"mongo_id":"6e185c13-a72b-4d44-b284-beb8ae19b082","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/133.jpg","photo_position":"above","related_issue":[546966],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lekela could be about to get Egyptian + Emirati owners - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lekela could be about to get Egyptian + Emirati owners\" \/>\n<meta property=\"og:description\" content=\"Infinity + Masdar to take majority stake in Lekela? Renewable energy player Infinity and Emirati firm Masdar are close to acquiring Actis\u2019 majority stake in Lekela Power in a transaction that could be worth almost USD 1 bn, Reuters reports, citing three sources it says are familiar with the matter. Our friends at Infinity declined [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-05T04:07:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/133.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Lekela could be about to get Egyptian + Emirati owners\",\"datePublished\":\"2022-06-05T04:07:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/\"},\"wordCount\":321,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/133.jpg?fit=%2C&ssl=1\",\"keywords\":[\"energy\",\"EnterpriseAM\",\"Infinity\",\"Lekela Power\",\"M&amp;A Watch\",\"renewables\",\"UAE\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/\",\"name\":\"Lekela could be about to get Egyptian + Emirati owners - 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The\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/188.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583848,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/21\/infinity-power-acquires-100-of-lekela-plus-ekh-ups-stake-in-petchem-subsidiary\/","url_meta":{"origin":546974,"position":1},"title":"Infinity Power acquires 100% of Lekela. PLUS: EKH ups stake in petchem subsidiary","author":"enterpriseam admin","date":"21 March 2023","format":false,"excerpt":"The transaction gave Lekela an enterprise value of USD 1.5 bn","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Egypt-wind-westbakr-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601146,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/actis-backed-lekela-wants-to-build-two-wind-plants-in-three-years-at-a-cost-of-usd-500-mn\/","url_meta":{"origin":546974,"position":2},"title":"Actis-backed Lekela wants to build two wind plants in three years at a cost of USD 500 mn","author":"enterpriseam admin","date":"20 February 2019","format":false,"excerpt":"INVESTMENT WATCH- Actis-backed Lekela wants to build two wind plants in three years at a cost of USD 500 mn: Lekela Power is planning to invest USD 500 mn in two wind energy projects with a combined production capacity of 500 MW over the next three years, the company\u2019s Egypt\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":635644,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/10\/lekela-power-to-reach-financial-close-for-gulf-of-suez-wind-farm-in-2018\/","url_meta":{"origin":546974,"position":3},"title":"Lekela Power to reach financial close for Gulf of Suez wind farm in 2018","author":"enterpriseam admin","date":"10 December 2017","format":false,"excerpt":"Lekela Power for New and Renewable Energy is expecting to reach financial close for its USD 400 mn, 250 MW wind farm in the Gulf of Suez sometime next year, Actis Partner Sherif El Kholy tells Al Borsa. Actis, an emerging markets equity player, owns 60% of Lekela. The project\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641454,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/24\/lekela-power-to-sign-contracts-for-usd-350-mn-wind-farm-project-by-year-end\/","url_meta":{"origin":546974,"position":4},"title":"Lekela Power to sign contracts for USD 350 mn wind farm project by year-end","author":"enterpriseam admin","date":"24 September 2017","format":false,"excerpt":"Lekela Power for New and Renewable Energy is expected to sign the contracts for its USD 350 mn, 250 MW wind farm in the Gulf of Suez by year-end, Actis Partner Sherif El Kholy tells Al Masry Al Youm. Actis, an emerging markets equity player, owns 60% of Lekela. El\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648719,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/10\/lekela-power-to-sign-usd-350-mn-agreement-for-250-mw-wind-farm-in-2q207\/","url_meta":{"origin":546974,"position":5},"title":"Lekela Power to sign USD 350 mn agreement for 250 MW wind farm in 2Q207","author":"enterpriseam admin","date":"10 April 2017","format":false,"excerpt":"Lekela Power for New and Renewable Energy expects to sign with the Electricity Ministry a USD 350 mn agreement to establish a 250 MW wind farm in the Gulf of Suez in this quarter, Daily News Egypt reports. Lekela and the ministry had signed an MoU for the project two\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546974"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546974\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546975"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546974"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546974"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}