Copenhagen Infrastructure Partners (CIP) has purchased the majority stake in Mulilo Energy Holdings (Mulilo), a prominent renewable energy developer in Cape Town, South Africa, through its Copenhagen Infrastructure New Markets Fund I (CI NMF I).
CIP will take over the company, while Mulilo’s current founders and management will remain on board to lead the company’s expansion.
The deal’s financial terms were not revealed. Mulilo has established itself as a significant player in the South African renewable energy market, with 8% market share and 440 MW of wind and solar projects already delivered.
It has an extensive pipeline of over 25 GW of projects in various stages of development, ranging from onshore wind and solar PV to storage.
The acquisition is subject to approval by the Competition Commission and other regulatory and change of control clearances.