A.P. Moller Capital in Kenyan power deal

A.P. Moller Capital, through the Africa Infrastructure Fund I, is acquiring Thika Power from Melec PowerGen and Africa Energy Resources.

Thika Power is an 87 MW independent power producer located in the Kenyan capital Nairobi. With this acquisition, A.P. Moller Capital will own two power plants located in Nairobi with a combined capacity of 140MW. This will make A.P. Moller Capital’s power platform, East Africa Infrastructure Platform Limited, one of the largest independent power producers in Kenya, and enable A.P. Moller Capital to actively participate in Kenya’s energy transition efforts.

Thika Power owns and operates an 87MW thermal power plant and has provided reliable power to the grid since its operations in 2014. The company is operated by an experienced local management team and sells electricity to the national utility Kenya Power and Lighting Company under a long-term power purchase agreement.

“This marks A.P. Moller Capital’s second investment in the Kenyan power sector, where we are adding a similar and well-run power plant to our portfolio, reaching a combined capacity of 140MW,” says Lars Reno Jakobsen, senior partner at A.P. Moller Capital.

Melec PowerGen, an affiliate of the Matelec Group from Lebanon, is a developer, builder, owner, and operator of power plants in Africa. Melec PowerGen has more than 15 years of experience with a development track record of four power plants in the continent with a combined capacity of 390MW.

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