Old Mutual increases stake in South African clean energy developer

Hybrid Equity, a division of Old Mutual Alternative Investments, announced that it will increase its stake in Mulilo, a South African renewable energy developer and strategic equity investor, with a further investment of ZAR420 million (c. $23.8 million).

Hybrid Equity has been an active shareholder in Mulilo since 2015 when it invested ZAR120 million (c. $6.8 million) and increased its stake in 2020 with another ZAR380 million (c. $21.5 million).

Mulilo was awarded projects in both the Independent Power Producer Risk Mitigation Programme and in Round 5 of the Renewable Energy Independent Power Producer Programme (REIPPP). Its focus is on wind and solar technologies.