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 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
Premium
September 12, 2025
Vote Solar's Sean Garren tells PV Tech Premium that Georgia Power's latest IRP is 'skewed so heavily towards fossil fuels'.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.

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