June 3 (Renewables Now) - Private equity investor Actis is said to be nearing a deal for the sale of a majority stake in pan-African renewables company Lekela and has also put BioTherm Energy (BTE) Renewables on the block, Reuters said on Thursday, citing sources familiar with the matter.
A consortium of UAE-based renewables company Masdar and Egypt's Infinity Energy is vying for the majority interest in Lekela in a deal expected to be worth between USD 900 million and USD 1 billion (EUR 935m), the report said.
An agreement could be unveiled in the coming weeks, according to the sources.
If agreed, the acquisition will give Masdar access to the south African market where the potential for renewables is considered big.
Lekela delivers utility-scale projects across Africa and has a portfolio of over 1GW of wind power in operation across Egypt, Senegal and South Africa, and a pipeline of additional projects in development across Africa.
Additionally, Actis is reportedly on the lookout for a buyer for BTE Renewables which has solar and wind parks totalling more than 400 MW in South Africa and Kenya.
Non-binding offers for the renewables company are expected by next week.
(USD 1.0 = EUR 0.935)