Mainstream, Actis Venture to Build Wind and Solar Farms in Egypt

(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
through 2017.

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.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Robin Saponar

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