A.P. Moller Capital to acquire Mainstream Renewable Power South Africa
The company is a large renewable energy developer and independent power producer in South Africa.
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A.P. Moller Capital has announced that its Emerging Markets Infrastructure Fund II (EMIF II), through a special purpose vehicle, has signed an agreement to acquire Mainstream Renewable Power South Africa, a large renewable energy developer and independent power producer in South Africa.
Established in 2009, Mainstream South Africa currently comprises 148 MW of operating and in-construction assets, 351 MW of construction-ready projects and a development pipeline of approximately 11.6 GW spanning solar, wind and battery storage opportunities.
Mainstream South Africa operates a fully integrated business with in-house capabilities across development, energy trading, project delivery, asset management and operations and maintenance. The company serves a growing base of corporate customers and has established relationships with South African companies, including Sasol and Air Liquide.
The transaction is subject to regulatory and other third-party approvals.
Jens Thomassen, partner at A.P. Moller Capital, said: “Mainstream South Africa is a high-quality business with an experienced management team, a proven track record and one of the country’s largest renewable energy development pipelines. As power demand and the need for new generation capacity continue to grow, this investment strengthens our energy transition strategy and supports our ambition to build a leading independent power producer in South Africa.”
Julie Berg, CEO of Mainstream Renewable Power, commented: “We are pleased that Mainstream South Africa will become part of EMIF II’s portfolio, with A.P. Moller Capital supporting the business in its next phase of growth. As Mainstream Renewable Power focuses on fewer markets, the South African business will benefit from an experienced infrastructure investor with the resources and expertise to support its development. We are confident that the strong and capable team in South Africa, together with A.P. Moller Capital, is well positioned to develop the portfolio and deliver on attractive projects in the pipeline.”
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