Copenhagen Infrastructure Partners (CIP) has acquired 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).
According to multiple reports, CIP will take over the company, while Mulilo’s current founders and management will continue to lead the company’s growth.
The financial terms of the transaction were not disclosed. Mulilo has established itself as a significant player in South Africa’s renewable energy market, with an 8 percent market share and 440 megawatts of completed wind and solar projects.
It has over 25 GW of projects in various stages of development, ranging from onshore wind and solar PV to storage.
The acquisition is subject to Competition Commission approval as well as other regulatory and change of control clearances.