Actis, together with Mainstream Energy, last week launched a renewable energy production platform that will help in full end-to-end management of power production projects, from site identification, project development, construction management, plant operations, and maintenance of plants.
Debbed the Lekela platform, it will find its basis from three 360MW wind power projects launched in Northern Cape, South Africa by Mainstream, recently. It also adds to Actis renewable energy platforms such as Ostro Energy launched in India.
Barry Lynch, Mainstream’s Managing Director, Onshore Procurement, Construction and Operations at Actis indicated the project draws on company’s track record of delivering solar and wind power projects to market on time as well as Mainstream’s “world- class portfolio” of related projects.
Actis is a United Kingdom-based private equity firm operating in the sectors of energy, real estate, healthcare, industrials and financial services. The platform will allow investors to reduce risks of developing power generation projects by choosing optimal projects and leveraging on funding structures. They will also be able to achieve higher exit valuations.
The project is aimed at providing 700 and 900MW of wind and solar power in Egypt, Ghana and South Africa and will have a different development timeline in each country.
Actis is eying at winning a 100 Megawatts of solar and wind power in a project they have been pre-qualified. The African countries are suitable for the renewable energy generation because of their climate and resources, but this energy is not tapped and many of the countries rely heavily on fossil fuels such as coal and oil.
Natural gas is a major source of energy in Egypt with oil producing over 40% and renewable energy generating almost 1% of energy.
Actis has deployed more than $ 1.9 billion in 27 energy projects with a total generation of 14GW across 21 countries and meeting the energy needs of over 30 million people.
