The funding will support progress on the Lekela Power platform, a joint venture with the global pan-emerging market private equity firm Actis.
Among the IFC backers of the deal are IFC African, Latin American and Caribbean Fund (ALAC) and the IFC Catalyst Fund, two funds managed by IFC Asset Management Company, Ascension Investment Management and Sanlam.
“Developing Africa’s power infrastructure, giving millions of people access to power and enabling the continent’s economic growth is one of the greatest challenges of our time," says Mainstream Renewable Power chief executive Eddie O’Connor.
"Renewable
