Norfund Invests $75 Million in South Africa’s Mulilo

Norway’s Norfund AS will invest $75 million in South African clean energy company Mulilo Renewable Energy Ltd., bolstering a transition from coal by the most industrialized nation on the continent.

The Norwegian investment fund gains a minority stake from the investment in Mulilo, an independent power producer, adding to its backing of a number of companies participating in the country’s switch to low-carbon sources of energy and the end of a monopoly held by state-owned utility Eskom Holdings SOC Ltd.