Lekela Power completes financial close for West Africa’s largest wind farm (158MW)

• Construction to start shortly with an estimated twenty-four (24) month build period
• 20 year Power Purchase Agreement (“PPA”) signed with the National Electricity Company of Senegal (“Senelec”) subject to inflation and pegged to Euro
• Vestas to supply 46 of its 3.45MW turbines under full EPC contract.

Mainstream Renewable Power, the global renewable energy developer congratulates Lekela Power, the Pan-African renewable energy generation platform on the successful completion of financial close for the utility scale wind project, Taiba N’Diaye in Senegal. The 158MW wind project located 70km north of Dakar has a 20 year PPA with Senelec pegged to the Euro and supported by a Government guarantee.  Taiba N’Diaye will transition into construction shortly with Vestas, the world’s largest wind turbine manufacturer supplying 46 of its 3.45MW turbines, and contracted for the EPC works.  Vestas has also signed a 20 year service and availability Agreement for the turbine maintenance. Lekela has a project portfolio in excess of 1.3GW and is majority-owned by shareholders, 60% by Actis, the leading growth markets energy investor, and 40% by a consortium led by Mainstream Renewable Power which includes investors such as the IFC and the Rockefeller Brothers Fund. Commenting on the announcement, Bart Doyle, Mainstream’s Group Chief Operations Officer said ‘Mainstream is delighted to see this milestone reached today. Significantly, this project will be the largest wind farm in West Africa and one of the most important privately financed wind farms in Sub-Saharan Africa, outside South Africa, to reach Financial Close in 2018’. Senegal has strong potential for renewable energy generation where according to estimates, wind power could account for as much as 70% of Senegal’s renewable energy generation capacity*. *https://www.africa-eu-renewables.org/market-information/senegal/renewable-energy Jeffreys Bay wind plant (138 megawatts) - developed and constructed by Mainstream.[/caption]