A.P. Moller Capital adds second power plant to Kenyan platform

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Having acquired IberAfrica Power in 2020, A.P. Moller Capital is adding another thermal power plant to the Danish investor’s portfolio of Kenyan power assets. The investment firm’s $1 billion Africa Infrastructure Fund I is buying Thika Power, an 87MW thermal power plant in Nairobi, from Melec PowerGen and Africa Energy Resources for an undisclosed sum. The plant is being added to A.P. Moller Capital’s power platform, East Africa Infrastructure Platform Ltd. No additional details of the transaction have been made available.

“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…,” said Lars Reno Jacobsen, a Senior Partner at A.P. Moller Capital, adding that as a responsible investor, the investment firm remains committed to the Kenyan power sector and will actively participate in Kenya’s energy transition efforts. “We have already taken steps to reduce our emissions footprint,” he said, adding that the firm “…will continue to support the Government of Kenya and all other stakeholders in the energy transition efforts through gas/green fuel conversion.”

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