- Mulilo Energy secured financial close for a 75-MW solar project to power Air Products’ local facilities in South Africa, generating 248 GWh annually.
- Nedbank, SBSA, and ABSA financed the Ukuqala Solar project, Mulilo’s first as a lead developer.
- Mulilo, majority-owned by Copenhagen Infrastructure Partners (CIP), continues expanding its renewable portfolio, having recently closed three battery storage projects in South Africa.
Mulilo Energy Holdings Pty secured financial close on a 75-MW solar project in South Africa. The project will supply electricity to Air Products’ local air separation facilities. It marks Mulilo’s first as a lead developer, with Air Products South Africa co-sponsoring and acting as the main power off-taker.
Located in Northern Cape Province, the Ukuqala Solar project is currently under construction and will connect to the Kestrel Main Transmission Substation. Upon completion, the solar farm will generate around 248 GWh of electricity annually. Mulilo will use wheeling to deliver the energy to several Air Products facilities across South Africa.
Nedbank, Standard Bank of South Africa (SBSA), and ABSA provided debt financing for the project. Mulilo’s CEO, Jan Fourie, highlighted its importance: “Ukuqala Solar is the sixth project our team closed this year and our first as lead developer.”
Copenhagen Infrastructure Partners (CIP) owns most of Mulilo, one of South Africa’s leading independent power producers (IPPs). The company already operates over 420 MW of wind and solar energy, and this new project strengthens its position in the country’s renewable energy market.
Air Products South Africa, a US-based subsidiary of Air Products and Chemicals Inc., relies on stable electricity for its operations. The solar project supports the company’s goal of reducing its carbon footprint and increasing renewable energy use.
Mulilo has achieved a series of successes with renewable energy projects. The company, part of a consortium with EDF International, Pele Green Energy, and Gibb Crede, recently secured financing for three large battery storage projects in South Africa. These projects will add 257 MW of storage capacity and help stabilise the national electricity grid.
Ukuqala Solar fits Mulilo’s broader strategy of expanding its renewable energy portfolio. The company aims to lead South Africa’s transition to cleaner energy. As the country faces ongoing electricity shortages and strives for a sustainable energy mix, projects like Ukuqala Solar play a critical role.
This financial close marks a key milestone for Mulilo and Air Products. The project will increase South Africa’s renewable energy capacity while supporting the industrial sector’s shift toward cleaner energy. Through Ukuqala Solar, Mulilo reinforces its commitment to growing its presence in South Africa’s renewable energy landscape and helping Air Products lower its environmental impact.
As South Africa moves toward a greener energy future, partnerships like those between Mulilo and Air Products highlight the importance of collaboration in advancing sustainable development. These efforts signal a strong commitment to renewable energy and its role in shaping the country’s industrial and energy sectors.