Mainstream Renewable Power forms US$1.9 billion Africa investment vehicle

Facebook
Twitter
LinkedIn
Reddit
Email

Mainstream Renewable Power and private equity firm Actis have established a US$1.9 billion investment platform for the African market.

Lakela Power will develop between 700 and 900MW of projects across the continent by 2018. The majority will be wind with 360MW of already procured in South Africa and a 225MW project in Ghana approaching financial close. Projects have also been awarded to it in Egypt’s recent procurement round.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Other African project’s from Mainstream’s 17GW development pipeline will also transfer to Lakela.

“In addition to Mainstream's extensive portfolio of projects in South Africa we are also developing projects in Ghana as well as pursuing exciting opportunities in other parts of Africa,” said Barry Lynch, managing director, onshore procurement, construction and operations. 

“An improvement in the regulatory regime in many African countries has opened up the sector for further investment,” said Lucy Heintz, partner, head of renewable energy, Actis. “Drawing on our deep understanding of the renewable energy sector, we are looking forward to unlocking the country’s formidable renewable resources and meeting some of the urgent demand,” she added.

The opportunities and challenges for PV in East Africa will be under discussion at Solar Energy East Africa, organised by PV Tech’s publisher, Solar Media. The event will be held in Nairobi on 10-11 March. Further details are available here.

Read Next

September 15, 2025
Advances in edge-based artificial intelligence are helping make solar and storage interoperable by tackling the data challenge, writes Andrew Foster.
September 15, 2025
Italy’s latest renewable energy tender has received 12GW of bids, of which the majority, 10GW, came from solar PV.
September 15, 2025
Sunrun has priced a securitisation of leases and power purchase agreements, taking its non-recourse debt capital raised in Q3 above US$1.5 billion. 
September 15, 2025
Norwegian energy firm Statkraft has agreed to divest a portion of its renewable energy portfolio to Serentica Renewables.
September 15, 2025
UNSW spin-out company Lab360 Solar has been awarded funding from ARENA to bring its drone-based PV inspection technology to market.
Premium
September 15, 2025
The UK government and solar industry have jointly published a long-anticipated roadmap detailing how to maximise the country’s solar potential. Chris Hewett, CEO of Solar Energy UK takes a closer look at the details.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines