Infinity Power, a joint venture between Egypt's Infinity and the Emirati company Masdar, announced on Monday, March 20, 2024, that it had completed the acquisition of the entire stake in Lekela Power. A transaction that now makes it the largest renewable energy company on the African continent.

Lekela Power is a company created by the British fund Actis and the Irish operator Mainstream Renewable Power. It is now the largest independent energy producer in Africa and would consider establishing establishments in North Africa. It operates 1 GW of wind projects in South Africa, Egypt and Senegal. For its part, Infinity Power is a company co-created by the Egyptian Infinity and the Emirati company Masdar. It has completed the acquisition of the entire stake in Lekela Power, a transaction that has made it the largest renewable energy company on the African continent. The European Bank for Reconstruction and Development (EBRD) and Africa Finance Corporation (AFC) are its main stakeholders.

Mohamed Ismail Mansour, president of Infinity Power, announced via a press release that after successfully completing the acquisition of Lekela, they will build on this step to achieve their goal of installing and operating 2 GW of new projects by 2025. “With this transaction, we have fulfilled the promise made at COP27 to be the fastest growing renewable energy company in Africa,” he said.