22 June 2016
Clifford Chance advises Actis and its portfolio platform joint venture, Lekela Power B.V., on its investment in the Taiba N'Diaye Wind Farm Project in Senegal
International law firm Clifford Chance has advised Actis and its portfolio platform joint venture, Lekela Power B.V., the pan-African renewable energy generation platform, on its acquisition of co-development rights and sole rights to invest in the Taiba N'Diaye wind farm project in Senegal.
The power purchase agreement is in the process of being finalised with the Senegalese government and it is anticipated that the project reaches financial close this year. The power market in Senegal is quickly expanding and this project is expected to deliver a low cost power solution.
Lekela Power’s current portfolio in construction and development is in excess of 1.3 GW with projects in Egypt, Ghana, South Africa and now Senegal. Lekela Power is a joint venture between Actis, a leading investor in growth markets (with USD 6.3bn funds under management) and global renewable energy developer, Mainstream Renewable Power (with over 10,000 MW in development, construction and operations). Clifford Chance has worked with Lekela Power since its creation.
Lekela Power's acquisition announced today follows a string of successful African power and private equity projects that Clifford Chance has advised on as part of the firm's wider Africa practice - comprising over 200 lawyers advising on the most high-profile power and private equity transactions across Africa.
In recognition of this practice, Clifford Chance was recently awarded the 2016 Overall Legal Advisor of the Year (Funds and Deals) for the 4th consecutive year at the PE Africa awards.