Copenhagen Infrastructure Partners (CIP) and Norfund, the Norwegian investment fund for developing countries, have entered a partnership to support the growth of South African renewable energy company Mulilo Energy Holdings (Mulilo). The agreement marks an important step for CIP and the investors in its New Markets Fund I (CI NMF I), which remains a shareholder in the company.
Norfund is investing USD 75 million in Mulilo, providing new capital and taking a minority ownership position. The partnership will provide additional funding for Mulilo’s expanding project pipeline. CIP and Norfund will work together to strengthen Mulilo’s position as an independent power producer, with a pipeline of 5.5 GW expected to reach financial close before the end of 2027. Mulilo develops wind, solar, and battery storage projects across South Africa and currently has a development pipeline of more than 30 GW.
