Chris Antonopoulos, CEO of Lekela Power, said: “We are pleased with the two MOUs, which mark an important step for Lekela Power and its partners. We have a long-term strategic plan to deliver renewable energy in Egypt; and a great ambition to continue to grow a significant presence in the market. Egypt’s abundance of natural resources set the perfect parameters for entering into renewable energy; and presents a strategic solution to the country’s pressing energy demands”.

 

Dr. Sherif ElKholy, Egypt director at Actis, added: “We are delighted to have now made Lekela a firm reality on Egypt’s renewable energy map. Lekela is Actis’s eighth energy platform; and our third partnership with Mainstream Renewable Power. Expanding Lekela’s pan-African presence into Egypt reiterates and reinforces Actis’s commitment and track record on the ground in Egypt over the last 13 years; we look forward to announcing more successes for Lekela and Actis in Egypt in due course."

 

Lekela Power’s portfolio of projects are expected to produce 1,000MW of renewable energy in various African countries over the next five years, with 860MW in either development or construction stages.

 

Barry Lynch, managing director of onshore procurement, construction and operations at Mainstream Renewable Power, added: “These wind and solar projects meet three important criteria in terms of addressing Egypt’s growing electricity demand. They can be delivered at the scale and the speed required, as well as at a price which is cheaper than new thermal generation.”

 

Mainstream Renewable Power has been busy over the last few days, as a consortium led by the company was awarded “preferred bidder” status by the Department of Energy in South Africa for two wind energy projects totaling 250MW on Monday.

Source : pv-tech.org