London-based private equity firm Actis is to sell its 100% stake in the African green energy platform BTE Renewables to the utility company Engie and investment firm Meridiam for an enterprise value of $1bn.
On completion, Paris-based Engie will acquire BTE’s South African assets while Paris-based Meridiam will acquire the Kenyan assets.
Actis established the pan-African renewable energy platform in 2017, with the acquisition of the Kipeto wind project in Kenya.
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In 2019, Actis grew the platform with the acquisition of South Africa-focused BioTherm Energy and rebranded the company BTE Renewables (BTE).
Lisa Pinsley, head of Middle East & Africa Energy at Actis, said: “The sale of BTE Renewables marks our fifth energy platform exit in Africa, where we have now built and owned 5GW of generation capacity, making Actis one of the largest investors in the regional energy sector.”
Source: Private Equity News
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