Mainstream Renewable Power in €1.7bn African expansion

Irish-owned wind and solar energy company Mainstream Renewable Power has expanded its presence in Africa with the establishment of a $1.9bn (€1.7bn) joint venture with emerging market-focused private equity firm Actis.

The venture, Lekela Power, aims to provide 700MW to 900MW of wind and solar power across the continent by 2018.

It will also absorb Mainstream’s other African projects in time, including the 225MW Ayitepa wind project being built in Ghana, which will eventually meet 10% of that country’s yearly energy needs.

Last year, Mainstream postponed its planned 2015 flotation until at least 2017.

It will take responsibility for the full end-to-end management of projects, including site identification, project development, construction management and plant operation and maintenance.

The company, which is also active in South America, Britain, and North America, already has partnerships in place with Actis in Chile and South Africa.

The core of the Lekela project will be three wind farms in South Africa, with a combined capacity of 360MW.

Construction began on them last week and they are expected to be operational next year.

According to Barry Lynch, Mainstream’s managing director for onshore procurement, construction, and operations, the company already has an extensive portfolio of projects in South Africa and is developing further projects in Ghana, “as well as pursuing exciting opportunities in other parts of Africa”.