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South Africa

South Africa

Actis and Mainstream launch $1.9bn African JV

AFRICA: Private equity firm Actis and developer Mainstream Renewable Power have formed a $1.9 billion joint venture to invest in projects across Africa.

Actis and Mainstream pan-Africa JV is looking to develop up to 900MW of renewable energy
Actis and Mainstream pan-Africa JV is looking to develop up to 900MW of renewable energy

Mainstream will own 40% of the subsidiary Lekela Power. It is looking to develop up to 900MW of wind or solar projects by 2018.

The three wind projects, which Mainstream reached financial close on last week, will become Lekela Power's first developments.

Lekela also has a pipeline over 325MW of wind and solar projects in Ghana, South Africa and Egypt.

Mainstream has partnered with Actis on similar initiatives in South Africa and Chile.

Last week, Actis invested $230 million in an Indian subsidiary with the aim of building 800MW in the country. It joins other similar renewable energy subsidiaries set up by Actis in central and southern America.

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