Lekela Power on track to deliver 1GW pan-Africa renewable energy plan
Lekela Power, a 60:40 joint venture between Actis and Mainstream Renewable Power, launched in February of this year already has 860 megawatts of wind and solar projects under construction or due to commence construction next year across South Africa, Egypt and Ghana. Lekela Power is one of the biggest international platforms focused on renewable energy targeting the emerging markets and has plans to deliver 1,000 megawatts of wind and solar power plants across Africa in the next five years. This week it achieved two significant milestones which sets it firmly on track to deliver on these objectives.
On Sunday 7 June, the South African Government awarded Mainstream Renewable Power two wind farm contracts under the latest round of its Renewable Energy Procurement Programme, which will transfer into the Lekela Power platform. The projects, which have a combined generation capacity of 250 megawatts, are expected to commence construction next year. Lekela Power already has an additional 360 megawatts of wind energy projects currently under construction in South Africa. In Egypt this week, the company signed agreements with NREA and took possession of the project land for a 50 megawatt solar PV facility in Aswan, and will shortly take possession of the land for a 50 megawatt wind farm in the West Gulf of Suez.
Commenting on the milestones, Chris Antonopoulos, Lekela Power’s CEO said: “Reliable electricity is a fundamental driver of economic growth, I am delighted that Lekela Power is making real progress towards achieving our goal of delivering 1,000 megawatts of renewable energy across Africa over the next five years. South Africa, Egypt and Ghana are ideal places for renewable energy generation due to the abundant supply of natural resources, and we look forward to leveraging this and helping to meet the rising electricity demand in these countries.”
Lekela Power has additional projects in the pipeline in Egypt, mainly a 250MW wind power plant in Gabal Elzeit under the BOO program, for which Lekela has submitted the lowest overall tariff of 3.961 USD cents per kWh.