Standard Bank partners with Meridiam in the acquisition of Kipeto Energy PLC
15 Feb 2024
Country
South Africa
Year
2024
Sector
Energy and Infrastructure
Business Unit
Structured Capital
Specific Role
Mandated Lead Arranger and Sole Funder
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, specialized 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 $80bn in projects, and currently holds a portfolio of $20bn 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.