Copenhagen Infrastructure Partners (CIP) said today it has acquired a majority stake in South African renewable energy developer Mulilo Energy Holdings, which has a large pipeline of projects.
Mulilo has so far developed and delivered 440 MW of wind and solar facilities and has a pipeline of over 25 GW across onshore wind, solar and storage.
The acquisition, subject to regulatory and change of control approvals, is on behalf of the fund manager’s Copenhagen Infrastructure New Markets Fund I (CI NMF I).
CIP said it will assume full control of the Cape Town-based business, whose founders and management will remain on board and drive growth.
“We believe the combination of Mulilo and CIP will make a meaningful positive contribution to resolve the energy crisis in South Africa with cost effective renewable energy,” said Robert Helms, a partner in CIP.
It was recently announced that TotalEnergies SE and Mulilo clinched deals to supply power from 260 MW of wind and solar power capacity in South Africa for what is currently the world’s largest oxygen production factory.