A.P. Moller Capital, a global institutional fund manager, has signed an agreement to acquire 100% of Mainstream Renewable Power South Africa from Mainstream Renewable Power, through a special-purpose vehicle under its Emerging Markets Infrastructure Fund II.

White & Case advised A.P. Moller Capital on the acquisition. The proposed transaction is subject to regulatory approvals and other third-party consents. The companies did not disclose the transaction value or the expected completion timeline.

Established in 2009, Mainstream Renewable Power South Africa develops, constructs, owns, and operates utility-scale renewable energy projects in South Africa.

The platform comprises 148 MW of operating and under-construction assets, 351 MW of construction-ready projects, and an approximately 11.6 GW development pipeline across solar, wind, and battery storage technologies.

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

A.P. Moller Capital said the acquisition would add to its existing infrastructure investments across Africa, and South and Southeast Asia.

After the transaction is completed, A.P. Moller Capital plans to work with the existing management team to expand Mainstream South Africa’s operating portfolio, grow its energy trading business, and support the company’s next phase of development.

According to Mercom’s Q1 2026 Solar Funding and M&A report, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.

In 2026, Chrysalis Renewables, a global renewables investment platform established by global infrastructure manager Morrison, acquired the Atlas V and Atlas VI solar projects in the U.S. from Hanwha Renewables, a utility-scale solar and energy storage developer.