Deal #8767
Egypt, Arab Rep.
Created at
2021-06-08
Last update
2024-07-06
Operating Company
Operating company
Actors involved in the negotiation / admission process
- NREA Government / state institutions (government, ministries, departments, agencies etc.)
- Egyptian Ministry of Electricity and renewable Energy Government / state institutions (government, ministries, departments, agencies etc.)
- Arab Republic of Egypt Government / state institutions (government, ministries, departments, agencies etc.)
- European Bank for Reconstruction and Development (EBRD): Other
Name of investment project
Lekela BOO
Comment on investment chain
Lekela signed a Power Purchase Agreement with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority in February 2019, and reached financial close in August 2019.The project involves an A loan of around US$ 25 million from IFC, with additional mobilization provided under IFC’s Managed Co-Lending Portfolio Program of approximately US$ 57 million.The project is owned by Lekela Power BV, and IFC is considering providing financial support.Infinity Power, a joint vLekela Power currently operates 1 GW of wind power projects and has a pipeline of 1.8 GW.
The transaction was funded through equity investment from shareholders and debt from Absa Corporate and Investment Banking (Absa CIB) and Mauritian Commercial Bank (MCB).Venture between Egypt's Infinity and UAE's Masdar, has acquired 100% shareholding of Lekela Power, making it Africa's largest renewable energy company.ela currently operates 1 gigawatt (GW) of wind power projects in South Africa, Egypt and
Senegal, and has a 1.8 GW project pipeline, which are in various stages of development.
Network of parent companies and tertiary investors/lenders
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