Rockefeller fund invests in Lekela Power

Private grantmaking foundation The Rockefeller Brothers Fund (RBF) has confirmed it is part of the investor consortium for a $117.5m investment in Mainstream Renewable Power-Actis joint venture Lekela Power. Via the financing, whose close was announced on 28 July, Mainstream is investing $177.5m of equity in the Lekela Power platform, of which $117.5 will come from RBF and the other investors, and $60m from Mainstream itself. “The teaming up of the world’s leading independent renewable power developer with a foundation started by members of the family that effectively founded the global oil industry, is a significant moment in the world’s transition to a new power system based on clean energy,” said Mainstream chief executive Eddie O’Connor.