Girasole Energies, a new French independent player in producing photovoltaic solar energy, raises €96 million from Mirova, a subsidiary of Natixis Investment Managers dedicated to sustainable investment.

Girasole Energies’ management team comes from the solar Third-Party Investment division of Enerlis group. As of today, Girasole Energies has about forty employees and a portfolio of 100 power plants in operation, and 500 projects under development.

The goal is to exceed 500 MWp in operation by 2028.

Founded in 2023, the company is becoming an independent power producer (IPP).

Develop a fully integrated, asset-centric approach: from design to operations

Girasole Energies’ approach is based on developing production units in local areas. As an integrated energy producer, Girasole Energies designs, finances, builds and operates photovoltaic power plants on artificial land made available by customers (roofs, parking lots, abandoned land). Girasole Energies retains control of its assets over the long term.

In addition to contributing to the energy transition, Girasole Energies’ customers receive various benefits: they are paid additional income, buildings are constructed, large roofs are renovated, they are brought into compliance with regulations, or they consume the local, competitively priced green electricity they produce via a long-term purchase agreement (Power Purchase Agreement or PPA).

Boost growth with Mirova’s assistance: shared convictions and ambitions

At the beginning of 2023, Mirova, a subsidiary of Natixis Investment Managers dedicated to sustainable investment within the BPCE group, acquired a stake in Girasole Energies. The goal is to support and accelerate Girasole Energies’ growth. This equity investment is coupled with a line of credit for constructing photovoltaic power plants.

As a mission-driven company, Mirova seeks to leverage its innovative investment solutions to create long-term value while positively influencing environmental and social issues. Mirova has in-depth knowledge of the French and European renewable energy markets and an extensive network of partners. As such, it has structured a robust investment platform dedicated to the energy transition, with a scope encompassing energy transition in its entirety, including wind, solar, storage, hydroelectricity, hydrogen, and electric vehicles.

Mirova has become a major financial partner for Girasole Energies, that will help accelerate its growth and complete its portfolio of photovoltaic power plants by 2028.

“Producing solar photovoltaic energy is an effective tool in increasing the value of companies’ and communities’ assets. Girasole Energies is at their side to help them take advantage of this opportunity throughout France. Our mission requires significant human and financial resources. Therefore, we are very pleased to partner with Mirova, a management company recognised in the field of financing energy and environmental transition. This partnership will enable us to participate more actively and quickly in decarbonising local areas,” says Aurélie Gaudillère, President of Girasole Energies.

“Girasole Energies’ position as a producer of photovoltaic electricity allows us to provide comprehensive support to many players. Some may wish to participate collectively in launching renewable energy across the country. Others may seek to increase the value of their property by adding solar. Yet others might worry about bringing their property into compliance with the growing regulatory obligations. And finally, there are those who will want to offset future increases in their energy bill. We are able to assist them all now and in the future. This mission is even more exciting due to Mirova’s equity investment in Girasole Energies. Mirova is a recognised impact investor whose commitment resonates in the hearts of all our employees,” says Pierre-Marie BERLINGERI, Managing Director of Girasole Energies.

“This investment makes it possible to continue financing the expansion of solar photovoltaic energy in local areas across France. It is part of our investment strategy to support the long-term development and growth of developers committed to speeding up the energy transition, and we will help them become independent producers of electricity from renewable sources. Girasole Energies’ positioning complements that of other French and European developers we support. We are proud to finance the construction of photovoltaic power plants that are well integrated into local areas and meet the highest standards in terms of sustainability,” says Anne-Laure Messier, Investments Director at Mirova.

For further reading
About Girasole Energies
As an independent French producer of photovoltaic energy, Girasole Energies develops, finances, builds and operates photovoltaic power plants throughout France, working side by side with communities, farmers, industrialists, service companies and developers. Using an integrated approach, Girasole Energies enables property owners to increase the value of their assets and reduce their energy bills while optimising their existing artificial land.

Mirova is an affiliate of Natixis Investment Managers.
Portfolio management company - French Public Limited liability company
Regulated by AMF under n°GP 02-014
RCS Paris n°394 648 216
59, Avenue Pierre Mendes France – 75013 – Paris.

Natixis Investment Managers
Natixis Investment Managers is a subsidiary of Natixis.
Portfolio management company - French Public Limited liability company
RCS Paris n°453 952 681
43, Avenue Pierre Mendes France – 75013 – Paris.

This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.

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