{"id":548133,"date":"2022-07-27T04:00:55","date_gmt":"2022-07-27T04:00:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/"},"modified":"2022-07-27T04:00:55","modified_gmt":"2022-07-27T04:00:55","slug":"infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/","title":{"rendered":"Infinity, AFC eye USD 4 bn to double Lekela\u2019s capacity"},"content":{"rendered":"

<\/a> Infinity + AFC plan USD 4 bn investment to double Lekela\u2019s capacity: <\/strong>Our friends at renewables player Infinity Group and Africa Finance Corporation (AFC) want to raise USD 2.5-4 bn over the next four years to double the capacity of the newly-acquired Lekela Power, AFC CEO Samaila Zubairu told Bloomberg<\/a> in an interview. The buyers are looking to ensure Lekela keeps its position as the \u201clargest renewable pure play in Africa.\u201d<\/p>\n

This comes a week after Infinity and AFC <\/strong>agreed to acquire 100% of Lekela<\/a><\/strong> from private equity firm Actis and Irish wind \/ solar developer Mainstream Renewable Power. The transaction reportedly valued Lekela at USD 1.5 bn and will hand Infinity and AFC a 2.8 GW portfolio of wind projects across Africa, making Infinity the largest renewables company on the continent. The acquisition is expected to close in 4Q.<\/p>\n

Enter the DFIs:<\/strong> Development finance institutions that AFC has worked with will likely provide the bulk of the finance, Zubairu told the business newswire. These include French lender Proparco, Germany\u2019s KfW and the US International Development Finance Corporation, he said.<\/p>\n

Infinity + AFC want to bring most of Lekela\u2019s pipeline online by 2026:<\/strong> The funding will make it possible for Lekela to bring online 50-75% of its 3 GW pipeline over the next four years.<\/p>\n

This would at least double current capacity:<\/strong> Lekela currently has 1 GW of operating assets while Infinity and AFC own facilities generating 400 MW. Lekela has >1 GW of installed capacity at projects located in Egypt, South Africa and Senegal. It has another 1.8 GW of projects in the pipeline that are expected to close in the near future. The company started generating at its 250-MW wind farm<\/a> in West Bakr last November.<\/p>\n","protected":false},"excerpt":{"rendered":"

Infinity + AFC plan USD 4 bn investment to double Lekela\u2019s capacity: Our friends at renewables player Infinity Group and Africa Finance Corporation (AFC) want to raise USD 2.5-4 bn over the next four years to double the capacity of the newly-acquired Lekela Power, AFC CEO Samaila Zubairu told Bloomberg in an interview. The buyers […]<\/p>\n","protected":false},"author":1,"featured_media":548134,"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":[7272],"tags":[798,72,334,125,921,7128,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-africa-finance-corporation","tag-enterpriseam","tag-infinity","tag-investment-watch","tag-lekela-power","tag-ma-watch","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"5c7ccb08-0b1d-4c73-964e-5c80ca7ded62","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/282.jpg","photo_position":"above","related_issue":[548125],"teaser":"","voice_url":""},"yoast_head":"\nInfinity, AFC eye USD 4 bn to double Lekela\u2019s capacity - 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\/07\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Infinity, AFC eye USD 4 bn to double Lekela\u2019s capacity\" \/>\n<meta property=\"og:description\" content=\"Infinity + AFC plan USD 4 bn investment to double Lekela\u2019s capacity: Our friends at renewables player Infinity Group and Africa Finance Corporation (AFC) want to raise USD 2.5-4 bn over the next four years to double the capacity of the newly-acquired Lekela Power, AFC CEO Samaila Zubairu told Bloomberg in an interview. 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The\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&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":582403,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/afc-lines-up-usd-1-bn-investment-after-egypt-becomes-paid-up-member\/","url_meta":{"origin":548133,"position":1},"title":"AFC lines up USD 1 bn+ investment after Egypt becomes paid-up member","author":"enterpriseam admin","date":"8 March 2023","format":false,"excerpt":"Renewables, gas, heavy industry, tech and finance could receive funding.","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Talaat-Harb-Square-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577374,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/lekela-earmarks-usd-2-bn-to-grow-its-egyptian-renewables-portfolio\/","url_meta":{"origin":548133,"position":2},"title":"Lekela earmarks USD 2 bn to grow its Egyptian renewables portfolio","author":"enterpriseam admin","date":"21 November 2022","format":false,"excerpt":"Renewable power company Lekela Power is looking to invest USD 2 bn in Egypt over the next four years as part of a USD 6 bn plan to quadruple its energy production capacity to 4 GW from a current 1.1 GW, CEO Chris Antonopoulos told Bloomberg Asharq on the sidelines\u2026","rel":"","context":"In "Energy"","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":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":548133,"position":3},"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 "M&A WATCH"","block_context":{"text":"M&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":548133,"position":4},"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 "Speed Round"","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":546974,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/lekela-could-be-about-to-get-egyptian-emirati-owners\/","url_meta":{"origin":548133,"position":5},"title":"Lekela could be about to get Egyptian + Emirati owners","author":"enterpriseam admin","date":"5 June 2022","format":false,"excerpt":"Infinity + Masdar to take majority stake in Lekela? 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