Lekela Power B.V.
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Lekela Power B.V. - overview
Established
2015
Location
Amsterdam, -, Netherlands
Primary Industry
Renewable Energy
About
Lekela Power B. V. is a renewable energy company focused on developing and operating large-scale solar and wind projects, primarily across Africa. The company aims to provide sustainable energy solutions that meet growing demands for clean power.
Founded in 2015 and headquartered in Amsterdam, Netherlands, Lekela Power B. V. specializes in renewable energy projects. The company has undergone a significant transition, being fully acquired by Infinity Group and Africa Finance Corporation in July 2022.
The acquisition was made from Actis and Mainstream Renewable Power Limited, although financial terms were not disclosed. The CEO of Lekela is Chris Antonopoulos. Over its history, the company has successfully closed 3 major deals and has raised a total of USD 220. 00 mn, with the latest funding round being a GROWTH round aimed at supporting the company's expansion efforts.
Lekela Power focuses on the development and operation of utility-scale renewable energy projects, primarily in solar and onshore wind technologies. The company currently operates renewable energy projects with a total capacity of 1. 3 GW, serving clients including government entities and large corporations in various African markets, particularly Egypt, South Africa, and Senegal. Their commitment is to achieve a total of 10 GW of renewable energy solutions by 2030, contributing to environmental sustainability.
In 2023, Lekela Power reported a revenue of USD 227. 14 mn and an EBITDA of USD 170. 88 mn. The company's revenue model is primarily B2B, relying on long-term Power Purchase Agreements (PPAs) with clients to secure predictable energy costs and stabilize revenue streams over time.
Lekela Power plans to leverage recent funding to expand its operations and solidify its position as a leader in the renewable energy market across Africa. The company is focused on developing new projects that enhance its renewable capacity and move into new geographic regions, reinforcing its commitment to addressing energy needs. The acquisition by Infinity Group and Africa Finance Corporation is expected to enable Lekela Power to grow significantly and become the largest renewable energy company on the continent.
Primary Industry
Renewable Energy
Sub Industries
Power Generation Equipment & Services, Solar Power, Wind Power
Website
www.lekela.com
Verticals
Clean Technology
Company Stage
Mature
Total Amount Raised
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Lekela Power B.V. - timeline of key events
Lekela Power B.V. - financials
| Fiscal Year Ended | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | 12,741,000 | 29,968,000 | 96,129,000 | 94,582,000 | 114,863,000 | - | - | - |
| % Revenue Growth (YoY) | - | - | 135.2% | 220.8% | (1.6%) | 21.4% | - | - | - |
| EBITDA (USD) | (397,000) | (3,866,000) | 9,065,000 | 34,458,000 | 54,572,000 | 74,962,000 | - | - | - |
| Operating Income (USD) | (404,000) | (7,097,000) | 652,000 | 1,609,000 | 22,776,000 | 35,529,000 | - | - | - |
| Operating Margin | - | (55.7%) | 2.2% | 1.7% | 24.1% | 30.9% | - | - | - |
| % EBITDA Margin | - | (30.3%) | 30.2% | 35.8% | 57.7% | 65.3% | - | - | - |
| NET Income (USD) | (864,000) | (18,288,000) | (21,260,000) | (73,966,000) | (34,728,000) | (50,997,000) | - | - | - |
| % Net Margin | - | (143.5%) | (70.9%) | (76.9%) | (36.7%) | (44.4%) | - | - | - |
Lekela Power B.V. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Completed | Lekela Power B.V. | - | ||||||||
| Growth | Completed | Lekela Power B.V. | - | ||||||||
| N/A | Completed | Loeriesfontein Wind Farm | - | ||||||||
| N/A | Completed | Khobab Wind Farm | - | ||||||||
| Secondary Buyout | Completed | Lekela Power B.V. | - |
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Lekela Power B.V. - employee data
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