Copenhagen Infrastructure Partners acquired a controlling stake in Mulilo Energy Holdings Ltd., the Danish power investor’s first deal in South Africa, the companies said in a statement on Thursday. | News24_Business
CIP is working with financial advisers to take a share in the South African renewable-energy developer, Bloomberg reported earlier. The investment firm has raised 19 billion euros for energy and associated infrastructure projects to date, according to the statement.
"With CIP taking a majority equity position at Mulilo, it gives our company the necessary tools and financial backing to make an impact in the renewable energy landscape in Southern Africa," Mulilo co-founder and chairman Christopher Aberdein said in the statement. Africa’s most industrialised economy is targeting large-scale renewable energy programs to bring more electricity on stream in a country that has been struggling with rolling power blackouts.
A significant number of South Africa’s unreliable coal-fired plants are being retired, requiring 53GW of clean energy capacity by 2032, according to Eskom, the utility that generates more than 90% of the nation’s power. That’s opened up opportunity for international firms looking to expand into the renewable-energy industry in the country and elsewhere in Africa, said the people.
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