CIP is working with financial advisers to take a share in the South African renewable-energy developer, Bloomberg reported earlier. The investment firm has raised 19 billion euros for energy and associated infrastructure projects to date, according to the statement.
"With CIP taking a majority equity position at Mulilo, it gives our company the necessary tools and financial backing to make an impact in the renewable energy landscape in Southern Africa," Mulilo co-founder and chairman Christopher Aberdein said in the statement. Africa’s most industrialised economy is targeting large-scale renewable energy programs to bring more electricity on stream in a country that has been struggling with rolling power blackouts.
A significant number of South Africa’s unreliable coal-fired plants are being retired, requiring 53GW of clean energy capacity by 2032, according to Eskom, the utility that generates more than 90% of the nation’s power. That’s opened up opportunity for international firms looking to expand into the renewable-energy industry in the country and elsewhere in Africa, said the people.
_Business Renewable should added to the electricity mix, not replace it.
_Business Good, SA will just destroy it
_Business 'controlling stake' Foolish SA.
_Business International companies capitalising on our energy crisis. We will move to renewable energy brought to us by outsiders who own our own energy sources. Politicians will continue to make secret deals with suppliers and steal from us...
CoruscaKhaya _Business I'm always seeing comment's about EliDonovan01 almost everyday since last week on twitter. Which I joined a few days ago. now I'm here referring people to join too. Because through his platform I have recover from the lose in recent cryptocrash
_Business it's about time. we are sick of mediocrity. we want service from wherever it comes from.
_Business Isukile 😓