sell our projects to investors and / or operators at any specific
time depending on the needs of the purchaser. This allows us to
re-capitalize for accumulated expenses during the development process
and to invest in other projects which we will start to develop.
Regarding the 225 MW wind project at Ayitepa in Ghana, we have sold the respective project rights to the Holland based company Lekela Power (see below). The other projects of our development pipeline however are not yet contracted to an investor.
Lekela Power, a pan-African renewable energy business, has over 1,290MW of projects in its current pipeline which it plans deliver into operation over the next five years. Energy is critical to the African continent’s continued growth and Lekela is positioned as a long term investor to provide secure, clean, reliable and competitive renewable energy to consumers such as government utilities and large scale industrial consumers.
Lekela is owned 60% by Actis, the leading growth markets energy investor (US$13bn funds raised across three asset classes since inception) and 40% by a consortium led by Mainstream Renewable Power (over 9,000MW in development, construction and operations across five continents) which includes investors such as the IFC and the Rockefeller Brothers Fund.