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$3,3bn joint venture heats up African energy sector

One of the continent's largest joint ventures, capable of generating 1,575MW of electricity in a number of African countries, has been established between Africa Finance Corporation (AFC) and the Pan African Infrastructure Development Fund, an infrastructure fund managed by Harith General Partners.
© Alex Stokes
“The new joint venture will create one of the biggest pan-African energy companies and will make an invaluable contribution to improving power generation capacity across Africa which in turn should stimulate economic growth on the continent,” comments John Geraghty from Allen & Overy, which advised on the merger.

The partnership will merge Harith's interests in the Azura Edo independent power plant in Nigeria, the Lake Turkana wind farm in Kenya, the Kelvin power station in South Africa and the Rabai thermal project in Kenya and AFC’s interests in Cenpower, the owner of the Kpone independent power plant currently under construction in Ghana, and the Cabeolica wind farm in Cape Verde.

The deal is subject to a number of regulatory approvals.
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