A consortium led by Mulilo, a South African independent power producer predominantly owned by CIP through its Growth Markets Fund I (CI GMF I), alongside EDF, has clinched the preferred bidder status for three battery energy storage projects. These were part of five projects granted in South Africa’s inaugural Battery Energy Storage Procurement Programme by the Department of Mineral Resources and Energy.
With their collective global expertise in battery energy storage systems and local market knowledge, the consortium assures efficient and cost-effective storage facilities—Oasis Aggeneis, Oasis Mookodi, and Oasis Nieuwehoop—that will significantly bolster South Africa’s electricity grid. Valued at over ZAR 7 billion, construction for these projects is slated to kick off by mid-2024. Upon completion, these installations will supply electricity under 15-year power purchase agreements to South Africa.
Robert Helms, a partner at CIP, expressed, “Securing preferred bidder status for the majority of South Africa’s first public battery storage tender alongside EDF represents a major stride in Mulilo’s rapid expansion. We commend the government’s commitment to swiftly integrating battery energy storage, a pivotal technology for Mulilo. This announcement underscores Mulilo’s commitment to bolstering the nation’s energy security, socio-economic development, and green transition.”
Jan Oberholzer, Chairman of the Board in Mulilo, added, “This milestone is pivotal for Mulilo. I am immensely proud of our team’s exceptional performance, surpassing our business plans. Together with our partners, we eagerly anticipate the successful execution of these projects, upholding our commitment to ensuring sustainable electricity supply for the nation’s economic growth and the well-being of our 61 million citizens.”
