en.Wedoany.com Reported - AP Moller Capital, through its Emerging Markets Infrastructure Fund II, has reached an agreement to acquire Mainstream Renewable Power South Africa.
The transaction is being executed through a special purpose vehicle, with the fund acquiring full ownership of this South African renewable energy developer and independent power producer.
Mainstream Renewable Power South Africa currently operates 148 MW of capacity (either operational or under construction), has an additional 351 MW of projects in the pipeline, and boasts a development pipeline of approximately 11.6 GW, encompassing solar, wind, and battery storage projects. Founded in 2009, the company holds a significant presence in South Africa's renewable energy sector, operating a fully integrated business with in-house functions covering development, project delivery, asset management, energy trading, and operations and maintenance. It serves multiple corporate clients in South Africa, including Sasol and Air Liquide.
Julie Berg, CEO of Mainstream Renewable Power, expressed that she is pleased Mainstream South Africa will become part of the EMIF II portfolio, with AP Moller Capital supporting the business in its next phase of growth. She noted that as Mainstream Renewable Power focuses on fewer markets, the South African operations will benefit from an experienced infrastructure investor with resources and expertise.
AP Moller Capital stated that this acquisition aligns with its strategy of investing in infrastructure assets that support economic development and the energy transition in emerging markets. The company has previously invested in several energy enterprises across Africa and Asia, including Cabeólica in Cape Verde, East Africa Infrastructure Platform in Kenya, Eranove in West Africa, Impala Energy in Nigeria, Lumika Renewables in South Africa, and Verdant Energy in Southeast Asia, and has announced a pending investment in India's Rays Power Infra.
Jens Thomassen, Partner at AP Moller Capital, said that Mainstream South Africa is a high-quality business with an experienced management team, a strong track record, and one of the largest renewable energy development pipelines in the country. He noted that as power demand and the need for new generation capacity continue to grow, this investment strengthens the energy transition strategy and supports the company's ambition to build a leading independent power producer in South Africa. Completion of the transaction is subject to regulatory and other third-party approvals.
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