The Infrastructure Investments unit of South African asset manager Stanlib has bought a 10% stake in local renewable energy developer Mulilo Energy Holdings.
The transaction gives Stanlib access to a wind and solar project development pipeline of nearly 3 GW, Mulilo said as quoted by local media.
The two plan to take part in the 2-GW Risk Mitigation Power Procurement Programme and in future rounds of the Renewable Energy Independent Power Producer Procurement Programme (REI4P), according to reports quoting a joint statement.
Mulilo is also engaged in projects to supply clean energy to large industrial and commercial energy consumers in South Africa.
Source: Renewables Now