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Clifford Chance advises Actis on US$1.9 billion African renewable energy platform

4 March 2015

Clifford Chance advises Actis on US$1.9 billion African renewable energy platform

Leading international law firm Clifford Chance has advised pan-emerging markets private equity firm Actis on a joint venture with Mainstream Renewable Power, a global wind and solar developer, to establish a US$1.9 billion pan-African renewable energy generation platform, Lekela Power. It is envisaged that Lekela Power will develop between 700 and 900MW of wind and solar power projects across Africa in the coming years.

Lekela Power recently completed its inaugural investment in three wind projects in South Africa, which will have a combined generation capacity of 360MW.

The Clifford Chance London deal team was led by Private Equity partner Nicholas Hughes, supported by Jo En Low and James Lloyd-Thomas. Energy and Infrastructure partner James Pay provided specialist advice on the transaction.

Nicholas Hughes commented: "We are delighted to have advised Actis on this strategically important transaction in the rapidly developing African power sector.  This transaction demonstrates the Firm's ability to draw upon its market-leading private equity, power and emerging markets expertise to assist Actis on the successful structuring, negotiation and execution of this pan-African renewable energy generation platform."