Norfund, Norway's sovereign wealth fund for developing countries, is investing USD 75 million in Mulilo Energy Holdings and becoming a minority shareholder in the company, which has Copenhagen Infrastructure Partners (CIP) as the majority shareholder through New Markets Fund I. CIP announced this in a statement.
Norfund invests in projects that promote sustainable economic development in low- and middle-income countries. The new capital will support Mulilo's growing project pipeline. Cip and Norfund will together contribute to the company's development into an independent energy producer with a pipeline of 5.5 GW, which is expected to reach financial close by the end of 2027.
Mulilo has 765 MW under construction and plans to add a further 1 GW in 2026. The wind, solar and BESS projects are expected to reduce CO2 emissions, increase energy supply and contribute to local initiatives within education, health and business development.
- We are pleased to welcome Norfund as a strategic minority investor in Mulilo. Norfund's investment provides growth capital and a partner with experience in the South African energy sector, says Robert Helms, CEO of CIP.
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