Copenhagen Infrastructure Partners (CIP), through its Copenhagen Infrastructure New Markets Fund I (CI NMF I), has announced the acquisition of a majority stake in Mulilo Energy Holdings (Mulilo), a South African renewable energy developer based in Cape Town. Financial details of the transaction were not disclosed.
Mulilo, a company in full growth
Mulilo was founded in 2008 and has experienced steady growth in the market. Today, the company has an 8% market share in the renewable energy sector in South Africa and has, to date, successfully developed and delivered 440 MW of operating wind and solar projects. In addition, the company has an extensive pipeline exceeding 25 GW for onshore wind, solar PV and storage.
CIP, a partner of choice
Niels Holst, CIP partner and head of NMF J, said, “We are proud to have made CI NMF’s first ever investment in South Africa and in a platform company. Mulilo represents an exciting opportunity for CI NMF I to invest in a growing developer and we are confident that we can accelerate the company’s positive trajectory.”
Christopher Aberdein, Mulilo’s co-founder and chairman of the board, commented, “Mulilo is very excited about its partnership with CIP. With CIP taking a majority stake in Mulilo, it gives our company the tools and financial backing to make an impact in the Southern African renewable energy landscape.”
A significant contribution to the green transition
Robert Helms, partner at CIP, added, “We believe the combination of Mulilo and CIP will make a significant positive contribution to solving South Africa’s energy crisis with cost-effective renewable energy.”
An acquisition subject to regulatory approvals
The acquisition is subject to regulatory and change of control approvals from the Competition Commission.
CIP is committed to working closely with local stakeholders to rapidly deploy renewable energy projects in South Africa and make a positive contribution to the green transition, local employment, and the development of global peak capacity in South Africa.
