Cross-border team advises Infinity Power on Lekela Power acquisition

Global Press release - Business March 2023

Global law firm Norton Rose Fulbright advised Infinity Power in connection with its acquisition of the entire shareholding of Lekela Power (Lekela), an Africa-based wind power platform, from a consortium led by Actis and Mainstream funds.

Lekela currently operates 1 gigawatt (GW) of wind power projects in South Africa, Egypt and Senegal, and has a 1.8 GW project pipeline, which are in various stages of development. This acquisition makes Infinity Power Africa's largest pure play renewable power company.

Infinity Power is a joint venture between Egypt’s Infinity and the UAE’s Masdar, one of the world’s fastest-growing clean energy companies, and includes further key stakeholders Africa Finance Corporation and the European Bank for Reconstruction and Development.

Jason Moss, a London-based M&A and securities partner, commented:

“We are delighted to have advised Infinity Power on this transformative transaction which gives it a combined operational portfolio of 1.3GW  and pipeline of 13.8GW. The transaction follows Infinity Power’s COP27 undertaking to be the fastest growing renewable energy company in Africa and reinforces its ability to implement its vision to provide access to clean, reliable and affordable electricity to communities across Africa.”

James Collis, a London-based banking and finance partner, added:

“It has been a privilege for our cross-border finance team to support Infinity Power through the negotiations on this milestone transaction, which was funded in part through an innovative debt structure provided by Absa Bank Limited (acting through its Corporate and Investment Banking Division) and The Mauritius Commercial Bank Limited.” 

The Norton Rose Fulbright transaction team was led by Chris Down, with the M&A team led by corporate partners Stephen Rigby and Jason Moss, supported by seniors Sam Morrey, Nari Ertem, Christopher Baird and Ed Gardner, associates Florence Childs, Charles Warren, Jess Ong, Alex Stewart-Moreno and Isobel Whitby, and trainee Emily Bailey. The Norton Rose Fulbright finance team was led by finance partners James Collis, Jackie Midlane and Madhavi Gosavi, supported by counsel Sunny Wong and associates Molly Stuart, Olivia Radford and Devan Falconer.

The wider Norton Rose Fulbright team comprised partner Caroline Thomas, directors Rosalind Lake and Marianne Wagener, senior associate Jamie Cooke and associates Sarah Crowther and Josh Da Costa (competition), partner Matthew Hodkin and associate Sofia Casselbrant (tax), partners Saskia Blokland and Geert-Jan van Rijthoven, counsel Stefanie Walthaus, senior associates Rogier de Haan and Jasper Geerdes and associates Marjolein Lensing, Iris Heins and Nivard Witte (Dutch corporate), partner Bart Le Blanc and consultant Frisso van Orden (Dutch tax), consultant Florence Elias and associate Willemijn Holm (Dutch financing), partner Simon Cudennec (French projects and corporate), consultant Sylvaine Ruet, associate Pierrick Ferrero and paralegal Carl El Kalaani (Senegalese corporate). 

For further information please contact:

Katie Mark, Senior Public Relations Manager

Tel: +44 20 7444 2498  


Head of Banking and Finance, EMEA
Head of Banking and Finance, Projects, South Africa
Head of Corporate, M&A and Securities, Europe, Middle East and Asia
Head of Amsterdam