South African Renewable Energy Firms Merge to Form Anthem, Targeting 6 GW by 2030
South Africa’s renewable energy sector has taken a major step forward with the creation of Anthem, an independent power producer (IPP) formed through the merger of African Clean Energy Developments and EIMS Africa. Already one of the country’s largest renewable energy players, Anthem controls between 12% and 15% of South Africa’s IPP market and has set an ambitious target of expanding its installed capacity to 6 gigawatts (GW) by 2030.
The consolidation has attracted significant new capital and strategic investors. Anthem’s shareholder base is led by the African Infrastructure Investment Managers’ IDEAS Fund, affiliated with Old Mutual, which remains the majority owner.
The black-owned Mahlako Energy Fund and Norway’s state-backed development investor Norfund hold a combined 15% stake, with Norfund committing R1.5 billion in equity. This shareholding could grow to 30% in the future, signalling strong long-term confidence in South Africa’s energy transition.
Anthem’s current portfolio includes 2.7 GW of wind, solar PV, and small hydro assets that are either operational, under construction, or nearing financial close. These projects generate over 2,400 GWh annually, enough to power millions of homes, with an additional 1,350 GWh expected in 2026. Its total pipeline amounts to 11 GW, highlighting its ambition to become a central driver of clean energy growth in South Africa and the wider SADC region.
The company’s projects include landmark developments such as the Umoya Wind Farm, South Africa’s first utility-scale wind project to reach financial close under the REIPPPP in 2012, and private-sector initiatives like the Msenge Emoyeni Wind Farm and the Castle Wind Farm, which supply power directly to industrial clients including Sasol and Sibanye-Stillwater.
Speaking at the launch, CEO James Cumming said: “Our immediate goal is to grow to 6 GW by 2030. We will deploy hybrid battery energy storage systems and assess standalone storage projects to strengthen grid reliability as South Africa prepares for the Wholesale Electricity Market (SAWEM).”
Chairperson Sean Friend described Anthem as a “game-changer” for Southern Africa, noting the company’s capacity to deliver large-scale projects while promoting job creation, skills development, and social and environmental programmes. COO Ryan Hammond added: “Where 140 MW wind farms were once considered large-scale, we are now developing projects five times that size.”
Anthem’s emergence marks a significant shift in the region’s energy landscape, demonstrating the growing capacity of IPPs to mobilise capital for ambitious renewable projects, establish private-sector offtake agreements, and advance energy innovation. For South Africa and the region, Anthem’s 6 GW target is a sign of the maturing renewable sector and its role in fostering resilience, industrial competitiveness, and sustainable development.
