- CIP has become the majority stakeholder in South African renewables developer Mulilo Energy Holdings
- This is the 1st ever investment of CI NMF, a CIP fund, in South Africa and in a platform company
- Mulilo claims to have operationalized 440 MW of wind and solar in South Africa to date, and has a pipeline exceeding 25 GW of onshore wind, solar and storage
South African renewable energy developer Mulilo Energy Holdings with its 440 MW operational wind and solar power capacity and an extensive pipeline of over 25 GW onshore wind, solar PV and storage, now has Danish investment firm Copenhagen Infrastructure Partners (CIP) as its majority shareholder.
CIP has acquired the stake of undisclosed proportion in Mulilo through its Copenhagen Infrastructure New Markets Fund I (CI NMF I) which gives full control of the company. Current founders and management team will continue to operate Mulilo. Acquisition is subject to regulatory approvals still.
According to CIP, Mulilo enjoys 8% market share in the country’s renewables sector. The latter will now have the ‘necessary tools and financial backing’ to expand and strengthen further in the country. Recently, the South African company joined hands with France’s TotalEnergies to build 260 MW solar and wind capacity to power the world’s ‘largest’ oxygen production site for Sasol and Air Liquide (see TotalEnergies Bags Private Solar & Wind PPAs In South Africa).
“We are proud to have made CI NMF’s 1st ever investment in South Africa and in a platform company,” said Partner in CIP and Head of NMF I, Niels Holst. “Mulilo represents an attractive opportunity for CI NMF I to invest in a growing developer and we are certain that we can accelerate the positive trajectory of the company.”
In February 2023, CIP entered a partnership with Amberside Energy for 2 GW solar and battery storage projects in the UK (see New Partnership For Solar & Battery Projects In UK).