Actis and Africa50 Invest in Tobene Power Plant

Source(s): Africa50

Global growth markets investor Actis, through its Azura Power platform, and Africa-focused infrastructure investor Africa50 have completed an investment in Senegal-based Tobene Power. The 115-megawatt Tobene Power plant was previously part of the development portfolio of Lebanon-based Melec Power Gen (MPG). Actis and Africa50 plan to convert the Tobene plant from heavy fuel oil to gas and to invest in MPG’s remaining portfolio of assets over time. Financial details of the transaction were not disclosed.