Buyout firm Actis LLP is poised to sell its stake in Lekela Power, an Africa-focused renewable energy firm, as early as July, according to people with knowledge of the matter.
The private equity company has entered into exclusive talks with Infinity Power, a joint venture between Masdar and Egypt’s Infinity Energy, to buy the 60% stake, the people said, asking not to be identified because the information is not public. Lekela, which has renewable energy power projects in South Africa, Egypt, Senegal and Ghana, is valued at about $1.8 billion, according to one of the people.
Actis helped set up Lekela in 2015 and the group has built a 1,300-megawatt portfolio, according to its website. The private equity firm has about $16.3 billion assets under management and has done 165 exits.
Read more: BNN Bloomberg
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