A.P. Moller Capital, through its Emerging Markets Infrastructure Fund II (EMIF II), has signed an agreement via a special purpose vehicle to acquire Mainstream Renewable Power South Africa, a leading renewable energy developer and independent power producer.

Founded in 2009, Mainstream South Africa is one of the country’s established renewable energy platforms, with a track record in developing, constructing and operating utility-scale solar and wind projects. The company has 148 MW of operating and under-construction assets, 351 MW of construction-ready projects, and a development pipeline of approximately 11.6 GW across solar, wind and battery storage.

The acquisition expands A.P. Moller Capital’s footprint in African energy transition investments, building on its existing portfolio across Africa, South and Southeast Asia, including investments in Lumika Renewables, Cabeólica, Eranove, Impala Energy, the East Africa Infrastructure Platform, Verdant Energy, and Rays Power Infra.

Mainstream South Africa operates as a fully integrated platform with in-house capabilities spanning development, energy trading, project delivery, asset management, and operations and maintenance. Its customer base includes major industrial players such as Sasol and Air Liquide.

South Africa remains a key market for renewable energy investment, supported by rising electricity demand, the gradual phase-out of coal-fired power generation, and ongoing regulatory reforms aimed at expanding private sector participation in power generation.

Following completion of the transaction, A.P. Moller Capital plans to work with the existing management team to expand the company’s operating portfolio, develop its energy trading activities, and advance its pipeline of renewable energy projects.

The transaction remains subject to regulatory and other customary approvals.

“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,” said Jens Thomassen, Partner at A.P. Moller Capital.

“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.”

“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,” said Julie Berg, Chief Executive Officer of Mainstream Renewable Power.

“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.”