{"id":583792,"date":"2023-03-20T00:00:00","date_gmt":"2023-03-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/"},"modified":"2023-03-20T00:00:00","modified_gmt":"2023-03-20T00:00:00","slug":"this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/","title":{"rendered":"THIS EVENING: Infinity Power closes its acquisition of 100% of Lekela Power +"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good afternoon, ladies and gentlemen.<\/span><span style=\"\"> We\u2019re officially in the final countdown to Ramadan,<\/span><span style=\"font-weight:400;\"> with reminders everywhere that we will soon part ways with our morning cup of coffee. Case in point\u2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA- The CBE just announced Ramadan working hours for banks:<\/span><span style=\"\"> Bank employees will<\/span><span style=\"font-weight:400;\"> work from 9am-2pm, while customers will have access to services from 9:30am-1:30pm throughout the holy month, the bank said today. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Infinity Power acquires 100% of Lekela Power:<\/span><span style=\"\"> Infinity Power has completed<\/span><span style=\"\"> its acquisition of Africa-based wind power platform Lekela Power, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Infinity-Power-Finalizes-Acquisition-of-Lekela-Power_En.docx.pdf\" style=\"\">press release (pdf)<\/a><\/span><span style=\"\">, making Infinity Power the largest renewable energy company in Africa. The company now has a combined operational portfolio of 1.3 GW with a pipeline of 13.8 GW. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The international business press is leading this afternoon with the contagion from Credit Suisse\u2019s crisis<\/span><span> and what UBS\u2019 lifeline will mean for the Swiss bank and the global banking system at large. The story is on the front pages everywhere, including <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/03\/20\/what-ubs-rescue-of-credit-suisse-cs-means-for-markets-and-banks.html\" style=\"\">CNBC<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-20\/credit-suisse-deal-hands-top-holder-1-billion-investment-loss?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/finance\/credit-suisse-takeover-central-bank-action-calm-jittery-markets-2023-03-20\/\" style=\"\">Reuters<\/a><\/span><span>, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/bbe83ac1-b42c-422b-a307-b365bbe12d41\" style=\"\">Financial Times<\/a><\/span><span>, and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-news-today-03-20-2023\" style=\"\">Wall Street Journal<\/a><\/span><span>.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Gov\u2019t could offload 10% of TE this week:<\/span><span> The Madbouly government <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/20\/this-morning-govt-could-offload-10-of-te-this-week-according-to-local-media-100655\/\" style=\"\">could finalize the sale<\/a><\/span><span style=\"font-weight:400;\"> of a 10% stake in national telecoms provider Telecom Egypt (TE) to a Gulf investor this week.<\/span><\/li>\n<li><span style=\"font-weight:700\">The clock is ticking for Pachin shareholders:<\/span><span> Shareholders of state-owned, EGX-listed Paint and Chemical Industries (Pachin) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/20\/fra-approves-national-paints-holdings-bid-for-pachin-100657\/\" style=\"\">now have 10 working days<\/a><\/span><span style=\"font-weight:400;\"> to respond to Dubai-based National Paints Holding\u2019s takeover bid after the Financial Regulatory Authority yesterday approved the offer. <\/span><\/li>\n<li><span style=\"font-weight:700\">Two state-owned real estate companies seek investment through capital increases:<\/span><span> State-owned real estate companies El Nasr Housing and Development and Maadi for Development and Construction <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/20\/two-state-owned-real-estate-players-want-to-bring-in-strategic-investors-100658\/\" style=\"\">will drum up investments<\/a><\/span><span style=\"font-weight:400;\"> from strategic investors through capital increases rather than selling stakes from existing shareholders.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">The sun will be back tomorrow to bring us a pleasant daytime<\/span><span> high of 26<\/span><span style=\"font-weight:400;\">\u00b0C before the mercury drops to a nighttime low of 14\u00b0C, our favorite weather app tells us.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen. We\u2019re officially in the final countdown to Ramadan, with reminders everywhere that we will soon part ways with our morning cup of coffee. Case in point\u2026 PSA- The CBE just announced Ramadan working hours for banks: Bank employees will work from 9am-2pm, while customers will have access to services from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":583793,"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":[7213],"tags":[633,4952,921,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-infinity-power","tag-lekela-power","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"1b5588f2-4d48-45a2-b559-8aa86a65da58","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/12\/agreement-2-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[583790],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.a2f227d7-0848-4d7b-8d14-a8c0cc7edd40.mp3"},"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>THIS EVENING: Infinity Power closes its acquisition of 100% of Lekela Power + - 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\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Infinity Power closes its acquisition of 100% of Lekela Power +\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen. We\u2019re officially in the final countdown to Ramadan, with reminders everywhere that we will soon part ways with our morning cup of coffee. Case in point\u2026 PSA- The CBE just announced Ramadan working hours for banks: Bank employees will work from 9am-2pm, while customers will have access to services from [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/agreement-2-1600px.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\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"THIS EVENING: Infinity Power closes its acquisition of 100% of Lekela Power +\",\"datePublished\":\"2023-03-20T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/\"},\"wordCount\":370,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/agreement-2-1600px.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterprisePM\",\"Infinity Power\",\"Lekela Power\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/\",\"name\":\"THIS EVENING: Infinity Power closes its acquisition of 100% of Lekela Power + - 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We\u2019re officially in the final countdown to Ramadan, with reminders everywhere that we will soon part ways with our morning cup of coffee. 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Through a special purpose vehicle\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":605305,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/27\/eetc-to-sign-final-ppa-with-lekela-power-next-month-for-250-mw-suez-wind-farm\/","url_meta":{"origin":583792,"position":2},"title":"EETC to sign final PPA with Lekela Power next month for 250 MW Suez wind farm","author":"enterpriseam admin","date":"27 December 2018","format":false,"excerpt":"The Egyptian Electricity Transmission Company (EETC) plans to sign next month the final power purchasing agreement with Lekela Power next month for its 250 MW wind farm in the Gulf of Suez, after Lekela secured funding for the project, according to unnamed sources. The European Bank for Reconstruction and Development\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":661866,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/06\/palm-hills-nbe-infinity-power-bring-home-the-silverware-global-banking-and-markets-africa-awards\/","url_meta":{"origin":583792,"position":3},"title":"Palm Hills, NBE, Infinity Power bring home the silverware Global Banking and Markets\u2019 Africa Awards","author":"enterpriseam admin","date":"6 March 2025","format":false,"excerpt":"PLUS- Our friends at EFG Holding received the IT industry\u2019s gold standard ISO 20000 certification","rel":"","context":"In &quot;Kudos&quot;","block_context":{"text":"Kudos","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/kudos\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/490.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547916,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/19\/infinity-will-become-africas-largest-renewables-player-through-lekela-acquisition\/","url_meta":{"origin":583792,"position":4},"title":"Infinity will become Africa\u2019s largest renewables player through Lekela acquisition","author":"enterpriseam admin","date":"19 July 2022","format":false,"excerpt":"Infinity + AFC just sealed Africa\u2019s largest-ever renewables acquisition: Our friends at renewables player Infinity Group and Africa Finance Corporation (AFC) have signed an agreement to acquire 100% of Lekela Power in what is Africa\u2019s largest renewables acquisition, the companies involved said in separate statements (here, pdf and here). 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