Mulilo Dominates Battery Market as South Africa’s Grid Crisis Deepens
SOUTH AFRICA – Mulilo Renewable Energy Limited is rapidly transforming South Africa’s energy landscape, emerging as the country’s leading developer of utility-scale battery storage.
The company’s momentum follows a US$200 million investment in 2023 from Copenhagen Infrastructure Partners (CIP), one of the world’s largest renewable energy infrastructure funds.
With that capital, Mulilo clinched 1.1 gigawatts of preferred capacity across three auction rounds under the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP).
Nearly a quarter of those projects have already reached financial close. Company leaders state that timing is critical as limited grid space makes delays increasingly costly.
Chief Executive Jan Fourie said Mulilo is prioritising swift deployment to stay ahead of shifting conditions. “You think you have grid today, but tomorrow it is gone. We are moving our strongest projects into construction immediately. There is no time to wait when national power stability is on the line”,he said.
Four of the company’s major battery storage sites—Retreat, Erfdeel, Bloemhoek and Vanilla are located in the Free State province.Collectively, they represent R9.5 billion in investment and will operate under 15-year power purchase agreements with Eskom.
Founded in 2008, Mulilo manages 420 megawatts of renewable power and aims to scale that to 5GW by 2028. Its broader pipeline spans more than 30GW across solar, wind, and storage projects.
Mulilo’s swift growth has sparked concern in political and labour circles. Critics have pointed to the appointment of Jan Oberholzer, Mulilo’s board chair and former Eskom Chief Operating Officer, as a possible conflict of interest.
While no wrongdoing has been alleged, some suggest the optics have undermined public confidence in the procurement process.
“Even if it was all above board, the perception matters.People are asking whether the same insiders are simply switching roles,” a union official told Moneyweb.
At a press briefing on 17 June, Energy Minister Kgosientsho Ramokgopa dismissed claims of bias, stating:
“The process was competitive, transparent, and legally sound. These projects are about restoring grid capacity—not about personalities or speculation.”
As Mulilo pushes ahead with billions in battery investment, South Africa’s energy future now hinges on who can deliver—and how fast. In a market still crippled by blackouts, the battle over energy is no longer political—it is existential.
-Bloomberg
