Lekela Power is planning to invest $6 billion to increase its electricity production capacity four-fold to more than 4 gigawatts (GW) by 2026, including $2 billion in Egypt, Asharq Business reported on November 18th, citing the company’s CEO, Chris Antonopoulos.

Antonopoulos expected that the acquisition deal of Lekela Power by Infinity Power Holding for around $1 billion would be finalized in early 2023.

The top executive noted that the company intended to expand in other areas in Egypt, rather than the Red Sea coast, including the West bank of the Nile.

It is worth noting that Infinity Power Holding is a joint venture between Egypt’s Infinity Power, UAE’s Masdar, the Africa Financing Corporation (AFC), and the European Bank for Reconstruction and Development (EBRD).

 

 

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