(Bloomberg) — Lekela Power, a joint venture between
Dublin-based Mainstream Renewable Power Ltd. and Actis LLP,
agreed to build a wind farm and a solar project in Egypt, each
with 50 megawatts of capacity.
Lekela will install the solar farm in Aswan, in the
country’s south, and the wind project near the Gulf of Suez, it
said Tuesday in an e-mailed statement. Terms weren’t disclosed.
Egypt has set a target of getting 20 percent of its
electricity from low-carbon sources by 2020, up from 12 percent
now. It expects to install 4.3 gigawatts of solar and wind
Mainstream and Actis formed Lekela in February to build
$1.9 billion of wind and solar projects across Africa. It has
860 megawatts of projects at the development and construction
stage, according to the statement.
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Will Wade, Robin Saponar