Norwegian Fund invests $75 million in South Africa’s energy sector

Established in 1997 and owned by the Norwegian Ministry of Foreign Affairs, Norfund invests state-backed capital into projects that drive job creation and sustainable growth, particularly across sub-Saharan Africa. Its latest move underscores Norway’s growing commitment to Africa’s clean energy transition.

“Norfund is delighted with the opportunity to support Mulilo in their mission to lead South Africa’s energy transition as the latest investment of the Norwegian Climate Investment Fund,” said Mark Davis, Executive Vice President for Renewable Energy at Norfund.

A further 765 megawatts are already under construction. The company’s rapid growth reflects South Africa’s rising appeal as a hub for green infrastructure investment.

His leadership is now central to Mulilo’s strategy of expanding clean energy production and storage across the region.

Copenhagen Infrastructure Partners, a global investment firm specialising in renewable energy, also holds a stake in Mulilo, underscoring the company’s growing reputation among international investors driving Africa’s renewable energy revolution.