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A.P. Moller Capital has acquired Iberafrica Power (E.A.) Limited (“Iberafrica”) in Kenya from Naturgy.
A.P. Moller Capital has completed its first investment in Kenya with the acquisition of the Nairobi based thermal power plant Iberafrica. A.P. Moller Capital acquired the 52.5MW Independent Power Producer (IPP) from Naturgy.
The acquisition of the entire issued share capital of Iberafrica, one of Kenya’s leading IPPs, is part of A.P. Moller Capital’s efforts to invest in infrastructure assets including power and energy in Africa. The acquisition provides A.P. Moller Capital with an effective platform to advance its investment commitments in Kenya. A.P. Moller Capital is planning to invest further in Greenfield and brownfield power and energy infrastructure assets in Kenya.
“Kenya is one of our focus countries with its sizeable, growing, and well diversified economy as well as its strategic location in East Africa. The transaction represents A.P. Moller Capital’s first investment in Kenya, where we are planning to be an active long term partner in the energy transformation, creating employment and driving foreign investments to advance the national development and growth agenda.” said Lars Reno Jakobsen, Senior Partner at A.P. Moller Capital.