Norfund, the Norwegian investment fund for developing countries, is investing $75 million in South Africa–based Mulilo Energy Holdings, providing new capital and taking a minority ownership position in the company.
The transaction marks a significant milestone for Copenhagen Infrastructure Partners (CIP), which remains a key shareholder in Mulilo, and the investors in its New Markets Fund I (CI NMF I).
Through the partnership with Norfund, CI NMF I has secured additional funding for Mulilo’s significantly expanded project pipeline. CIP and Norfund will jointly support Mulilo’s ongoing transformation into a tier-one independent power producer, with a robust near-term pipeline of 5.5 gigawatts expected to reach financial close before the end of 2027.
Norfund’s investment comes at a time of strong momentum for Mulilo, which currently has 765 megawatts under construction and plans to add a further 1 gigawatts to its construction portfolio in 2026. Mulilo’s
