Mulilo Energy, a South African Renewable company, has entered into a USD 75 million (over R1 billion) investment deal with Norfund.
Norfund is owned by Copenhagen Infrastructure Partners (CIP) through its New Markets Fund.
The significance of this move, is Mulilo will accelerate into a tier-one Independent Power Producer.
Jan Jurie Fourie, CEO of Mulilo, said “we are delighted to welcome Norfund as a strategic partner. The support from CIP has been instrumental in positioning Mulilo as a leading IPP and attracting world-class investors. This investment is a testament to the confidence in Mulilo’s vision and our proven ability to deliver large-scale renewable energy projects that advance South Africa’s energy transition, support local communities, and drive sustainable economic growth.”
The investment strengthens Mulilo’s ability to deliver large-scale renewable projects, amounting to over 30 Gigawatts (GW).
Norfund’s CEO, Tellef Thorleifsson, said “Norfund is proud to join forces with CIP and Mulilo in this landmark investment that will accelerate the deployment of renewable energy across South Africa. Our commitment of USD 75 million reflects our confidence in the platform’s ability to deliver large-scale renewable energy projects that support the transition to net zero.”