Copenhagen Infrastructure Partners (CIP), a Danish investment firm, has purchased a majority stake in South African renewable energy developer Mulilo Energy Holdings for an undisclosed sum. The deal was carried out by CIP through its Copenhagen Infrastructure New Markets Fund I (CI NMF I). Mulilo’s existing founders and management will remain on board following the acquisition.
Mulilo, headquartered in Cape Town, was founded in 2008 and has produced 440 MW of wind and solar projects. The company has a pipeline with onshore wind, solar photovoltaic, and storage capacity totaling more than 25 GW. The transaction is subject to regulatory and change of control approvals from the Competition Commission.
Earlier this month, CIP collaborated with Viviid Renewables, to construct more than 1.8 GW of renewable energy capacity in India. CIP signed the agreement via its CI NMF I. The initial focus of the partners would be on creating two onshore wind farms with a combined capacity of more than 500 MW. The remaining capacity would be developed and built by CI NMF’s successor funds.