South African renewable energy company Mulilo announced plans to invest R14.8bn in new projects.
The funding will support the development of three large-scale solar photovoltaic projects and a battery energy storage system, collectively expected to add 716MW to the national grid.
Mulilo said the projects are part of a wider strategy targeting 1GW of renewable energy deployment a year, with a broader pipeline of initiatives under development.
The company did not provide specific timelines for construction or commercial operation but framed the commitment as part of efforts to accelerate South Africa’s energy transition.
The announcement was made at the Sixth South Africa Investment Conference (Saic) in Sandton on Tuesday, which saw a total of R889.8bn in commitments over the next five years.
This includes R415bn in fixed investments and R474.8bn from development finance institutions, spanning 81 projects across all nine provinces and expected to create more than 230,000 permanent jobs.
Mulilo chief commercial officer Seithati Bolipombo said the company intends to work closely with government, regulators, financiers and communities to move projects from planning to execution.
While the R15bn investment is significant, execution challenges remain. South Africa’s independent power producers have historically faced delays due to grid constraints.
Battery storage projects, in particular, require alignment with grid operators to ensure effective dispatchability.
Mulilo has a development pipeline exceeding 30GW, spanning wind, solar and battery storage projects.
In recent years, the company has secured international investment, including majority ownership by Copenhagen Infrastructure Partners, a Denmark-based investment company, and a $75m minority investment from Norwegian investment fund Norfund, supporting its expansion plans.
In 2026, Mulilo reached financial close on a 219 MW solar project near Orkney, backed by a power purchase agreement with Etana Energy, part of its ongoing effort to deploy around 1GW of renewable capacity a year. - Business Day
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