Copenhagen Infrastructure Partners awarded preferred bidder status for three battery energy storage projects in South Africa

COPENHAGEN, Denmark, Jan. 04, 2024 (GLOBE NEWSWIRE) -- A consortium consisting of Mulilo, a South African independent power producer majority owned by CIP through its Growth Markets Fund I (CI GMF I), and EDF has been successfully selected as preferred bidder for three battery energy storage projects. A total of five projects were awarded under South Africa's first Battery Energy Storage Procurement Programme by the Department of Mineral Resources and Energy.

The consortium holds global experience with battery energy storage systems and local market expertise, ensuring that the three facilities, Oasis Aggeneis, Oasis Mookodi and Oasis Nieuwehoop, will deliver cost-effective and efficient storage capacity to South Africa's electricity grid. The total cost of the projects is estimated to be more than ZAR 7bn, and construction is expected to commence in mid-2024. When completed, the three projects will dispatch electricity under 15-year power purchase agreements to South Africa.

Robert Helms, partner at CIP, commented: "Securing preferred bidder status for the majority of the procured capacity in South Africa's first public battery storage tender together with EDF marks a significant step in the accelerated growth journey of Mulilo. We commend the South African government's strong commitment to the rapid buildout of battery energy storage, a key focus technology for Mulilo. With the announcement, we are proud for Mulilo to continue its positive contribution to the country's energy security, socio-economic growth, and green transition."

"This achievement is an important and significant milestone for Mulilo. I am very proud of the entire team that is currently outperforming our business plans and look forward, together with our partners, to the successful execution of these projects," said Jan Oberholzer, Chairman of the Board in Mulilo. "We remain committed playing our important part ensuring sustainable electricity supply needed for economic growth and the betterment in the lives of the 61 million people in our beautiful country."

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world's largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages 12 funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com