Standard Chartered advises Norfund on USD 75 million investment into CIP-backed South African renewable energy Independent Power Producer Mulilo

Investment represents a minority shareholding in Mulilo

13 November 2025, London – Standard Chartered is pleased to announce its role as sole financial M&A adviser in relation to Norfund’s USD 75 million equity investment in Mulilo Energy Holdings (“Mulilo”), a leading South African renewable energy developer and Independent Power Producer backed by Copenhagen Infrastructure Partners (“CIP”).

Mulilo is an established Independent Power Producer with 448MW of operational solar and wind assets and a long-term development pipeline exceeding 30GW across renewable and battery energy storage projects including 765MW under construction.

Norfund’s partnership with Mulilo reinforces the company’s position as a leading renewable energy developer, significantly contributing to South Africa’s renewable energy capacity.

Standard Chartered provided comprehensive buy-side M&A advisory services, including valuation analysis, due diligence co-ordination, transaction structuring, transaction documentation, Share Subscription Agreement negotiations and transaction management. The transaction reinforces Standard Chartered’s position as a connector bank, providing global cross-border mergers and acquisitions advisory services, enabling clients to achieve their investment goals in the global energy sector.

“We were delighted to advise Norfund, leveraging our strong clean tech M&A advisory track record globally and in South Africa. Our unique global footprint allows us to efficiently connect international capital to compelling renewable energy infrastructure investment opportunities – this is our fifth transaction in this sector in Africa in 2025,” said Arnaud Bouillé, Head, Clean Tech & Environment M&A, Europe & Africa at Standard Chartered.

“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. Our thanks to Standard Chartered for their assistance and support,” says Mark Davis, EVP Renewable Energy, Norfund.

Standard Chartered’s Clean Tech M&A team have advised on over twenty transactions in the last three years, reflecting the Bank’s unique global network, specialist sector knowledge and ability to connect capital to global investment opportunities.

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For further information please contact:

Mark Roberts
Executive Director, Corporate Affairs, Brand and Marketing, Europe & Americas
Standard Chartered
+44 (0)7788654564
mark.roberts@sc.com

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