NEWS

Mulilo, a leading South African renewable energy developer and Independent Power Producer (IPP), is proud to announce a landmark USD 75 million (over R1 billion) investment from Norfund, the Norwegian investment fund for developing countries. This strategic investment, managed through Norfund’s Climate Investment Fund, marks a significant milestone in Mulilo’s journey to deliver clean, reliable, and affordable energy to South Africa.

This achievement has been made possible through Mulilo’s strong partnership with Copenhagen Infrastructure Partners (CIP), one of the world’s largest fund managers dedicated to greenfield energy investments. Since CIP’s acquisition of a majority stake in Mulilo in 2023 through its New Markets Fund I, CIP has played a central role in strengthening Mulilo’s platform, expanding its project pipeline, and attracting high-quality international investors such as Norfund.

The new capital injection from Norfund will further strengthen Mulilo’s balance sheet and support the company’s ambitious growth strategy, following the recent R7 billion corporate facility from Standard Bank, which provided a robust financial foundation for expansion. With Norfund joining CIP and its New Markets Fund I as key shareholders, Mulilo is well-positioned to accelerate the delivery of 5.5 GW of its project pipeline, with financial close targeted before the end of 2027.