Page 10 - AfrElec Week 11 2023

AfrElec INVESTMENT AfrElec

CIP acquires renewable energy IPP

SOUTH AFRICA DANISH power investor Copenhagen Infra- Helms, a partner in CIP.
structure Partners (CIP) has acquired a major- According to the
ity share of Mulilo Energy Holdings (Mulilo), a statement, the acqui-
South African renewable energy developer based sition was conducted
in Cape Town. through the Danish
CIP will assume full control of the company investor’s Copenhagen
with the current founders and management Infrastructure New
remaining on board and driving the company’s Markets Fund I (CI
growth, the investment firm said in a statement NMF I) and is subject to
on March 9. regulatory approval by
“With CIP taking a majority equity position the Competition Com-
at Mulilo, it gives our company the necessary mission. The financial
tools and financial backing to make an impact details of the transaction have not been disclosed.
in the renewable energy landscape in Southern Founded in 2012, CIP manages ten funds and
Africa,” Mulilo co-founder and chairman Chris- has to date raised approximately €19bn ($20bn).
topher Aberdein said in the statement. The funds managed by CIP focus on invest-
Mulilo, founded in 2008, currently holds an ments in offshore and onshore wind, solar PV,
8% market share in the South African renewable biomass and energy-from-waste, transmission
sector and has to date developed and successfully and distribution, reserve capacity and storage
delivered 440MW of operating wind and solar infrastructure.
projects. “We are proud to have made CI NMF’s first
In addition, the company holds an extensive ever investment in South Africa and in a plat-
pipeline exceeding 25GW across onshore wind, form company,” commented Niels Holst, a part-
solar PV and storage, according to the statement. ner in CIP and head of NMF I.
Mulilo has also recently partnered with TotalEn- “CIP is committed to working closely with
ergies SE on hybrid facilities, Bloomberg reports. local stakeholders to rapidly deploy renewable
“The combination of Mulilo and CIP will energy projects in South Africa and make a pos-
make a meaningful positive contribution to itive contribution to the green transition, local
resolve the energy crisis in South Africa with employment and developing world leading capa-
cost-effective renewable energy,” said Robert bilities in South Africa,” he added.™

EU funds for KenGen geothermal plants

KENYA STATE-OWNED Kenya Electricity Generat- more electricity.
ing Company (KenGen) is set to embark on the The refurbishment of the two plants comes
redevelopment of the Olkaria I and IV geother- at a time when Kenya is keen on deploying
mal power plants after securing $46.6mn from renewable energy as the country makes progress
the European Union (EU). towards achieving a 100% transition to clean
Energy Cabinet Secretary Davis Chirchir energy by the year 2030.
announced that EU financing will enable Recently KenGen commissioned the 86
KenGen to rehabilitate the plants and add MW Olkaria I Additional Unit 6 plant that is
an additional 40 MW to the national grid, a currently supplying the nation with additional
development that comes as the East African renewable energy.
country is in has been phasing out electricity The new plant has helped absorb shocks
generation from thermal plants. caused by the prolonged drought, one of the
KenGen, which generates 60% of Kenya’s longest in recent history, which has affected the
electricity, plans to redevelop the 40-year-old company’s hydro generation capacity due to low
45 MW Olkaria I geothermal power plant to water levels.
boost its capacity to 63 MW and also upgrade The plant has also enabled the East African
Olkaria I Additional Units 4 and 5 and Olkaria nation to cope with increased power demand,
IV from the current combined 300 MW to 340 with the national peak demand rising 5.6% from
MW. 2,036 MW to 2,149 MW during the second half
The 45 MW Olkaria I (Units 1, 2, and of 2022
3) was the first geothermal power plant “In previous years, we would be having seri-
in Africa and was commissioned in 1980. ous scenarios of power rationing affecting the
The rehabilitation of the plant will involve entire country at a time like now when the rains
addressing the years of wear and tear and have failed,” said KenGen acting chief executive
restoring the plant enabling it to generate Abraham Serem.™

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