South African Consortium Wins Bid for Three Major Battery Energy Storage Projects
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.
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.
Robert Helms, Partner, CIP
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. 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.
Jan Oberholzer, Chairman of the Board, Mulilo
