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Paris-based investment manager Mirova, an affiliate of Natixis Investment Managers, has announced the launch of its sixth strategy on energy transition infrastructure, aiming to raise up to €2 billion ($2.1 billion).
This new vintage will support decarbonisation, mainly in Europe, where the need for diverse renewable energy sources has never been greater, the firm said in a statement last week.
The investment strategy will help to meet the financing needs for resilient infrastructure that is essential to the decarbonisation of energy production and consumption. It will build on Mirova’s energy transition funds and will retain flexible investment approaches – majority or minority stakes and equity financing or subordinated debt.
The new investment strategy succeeds Mirova’s fifth energy transition strategy: launched in February 2021, it exceeded its target, raising €1.6 billion in less than 18 months.
The new strategy will aim to finance proven technologies (onshore and offshore wind power, photovoltaics, hydropower, storage and energy efficiency) while continuing to support the development of low-carbon electric mobility and hydrogen.
The Mirova team is working on various opportunities that could enable deployment, with investments as early as 2024. While the strategy's core deployment target remains Europe, part of the investments could be made in other OECD member countries, the firm continued. By duplicating proven models, Mirova said it aims to extend the partnerships forged with European developers in new regions, notably in Asia.
With more than 20 years' investment experience in renewable energy, the team manages €3.5 billion and has financed more than 1,000 projects in 48 countries in Europe, Asia and Africa.