Standard Bank partners with Meridiam in the acquisition of Kipeto Energy PLC
Standard Bank partners with Meridiam in the acquisition of Kipeto Energy PLC
Kipeto is the second largest operating wind power project in Kenya.
Africa Private Equity News’ Connect messaging service is now free. Directly message other private equity professionals in our community.
Download the free Africa Private Equity News app: Android | iOS (or search for it in the app store)
Tap on the top-right icon to log in or register a free account
Tap on bottom-right Connect icon to start chatting
By Standard Bank
Standard Bank is proud to announce that it has partnered with Meridiam on an equity financing solution for the acquisition of Kipeto PLC, the second largest operating wind power project in Kenya, providing clean power to 250 000 homes.
Meridiam is an independent investment Benefit Corporation and asset manager based in Paris, specialised in developing, financing and managing long-term public infrastructure projects. Founded in 2005, Meridiam invests in public infrastructure in Europe, North America and Africa. The Company has offices in eleven countries: France, Luxembourg, United States, Canada, Turkey, Senegal, Austria, Ethiopia, Jordan, Gabon, South Africa.
Since inception, the company has invested over $80 billion in projects, and currently holds a portfolio of $20 billion of assets under management. The Meridiam business model primarily focuses on essential infrastructure including Sustainable Mobility, Critical Public Services, and Low Carbon Solutions.
The 100MW Kipeto wind farm commenced construction in 2018 and was subsequently merged with BioTherm Energy into one platform following an acquisition made by Actis in 2019. The wind farm was then commissioned in 2021.
The transaction exemplifies the ability of the Standard Bank’s Structured Capital team to provide a bespoke and innovatively structured financing solution to facilitate the acquisition of Kipeto.
Standard Bank Group is the largest African bank by assets with a unique footprint across 20 African countries. Headquartered in Johannesburg, South Africa, it is listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.