Hyperion Renewables Closed A Total Investment Of €140 Million From Mirova To Accelerate The Transition To An Independent Power Producer
Hyperion Renewables, a leading Portuguese renewable energy developer with activities in Iberia and a growing presence in Europe raises €140 million from Mirova, a French affiliate of Natixis Investment Managers dedicated to sustainable investing, to boost its growth.
Hyperion was founded in 2006 and has, since then, registered a development track record of more than 50 large scale solar projects totaling over 640 MW that have reached Ready-to-Build (RtB) stage, with over 370 MW connected to the grid, of which 270 MW in Portugal. This represents close to 20% of all utility-scale solar capacity installed in Portugal by year-end 2022. Mirova’s investment will support Hyperion's strategic decision to continue its organic growth and transition from being a developer to an Independent Power Producer (IPP) of reference based in Iberia.
The capital injection1 will drive the initial deployment of 3.4 GW of Hyperion’s current pipeline, consisting of photovoltaic (PV), wind, storage, and green hydrogen projects, mainly in Portugal, for a holistic and diversified strategy to speed energy transition.
Hyperion is one of the leading renewables services providers in Portugal with more than 600 MW of assets under management, which have led the company to establish a strong organizational backbone to embrace the sector evolution anticipated for the next years, while maintaining a strong ESG focus. The company is well-positioned to capture the accelerated growth generated from the increasing renewable energy targets and the addition of new technologies (including storage and green hydrogen) and services, thanks to its highly experienced senior team with multi-GW development expertise.
Hyperion and Mirova have been collaborating since 2018, when Mirova acquired a 90% stake of PV Vale de Moura, a 28 MW solar project located in Évora, Portugal, developed by Hyperion that retained 10% equity. This pioneer project, in operation since 2019, represented an important milestone for Hyperion, as it was the first Iberian project with a long-term 10-year pool PPA (Power Purchase Agreement), signed with AXPO, and a project finance with Banco BPI. The stake of Hyperion in PV Vale de Moura and the asset management services allowed Hyperion and Mirova to maintain a close relationship that consolidated the trust and alignment between both parties, which will be reinforced by this new collaboration.
Aytea Amandi & Pedro Rezende, Hyperion’s CEO & Hyperion’s Founder and Executive Chairman said: “We are thrilled to announce a successful capital raise, that represents a significant milestone in Hyperion’s journey towards a sustainable future. Mirova is the right partner for the acceleration of this transition, since we have common core values and principles, as seen in the past years of our collaboration, as well as common development objectives for Hyperion. We will now be in a position to accelerate our efforts, driving innovation and expanding our impact, transforming our business, and contributing to the global transition to a greener and more sustainable tomorrow.”
Hélène Dimitracopoulos, Investment director overlooking Iberia at Mirova said: “This alliance amplifies our collective strength and expertise, forged through previous investments and shared commitment to pioneering sustainable energy solutions. Hyperion’s agility in navigating the complexities of the industry perfectly complements Mirova resources and investment strategy. Together, we intend to accelerate the construction of new renewable assets, driving impactful change and shaping a resilient, greener future.”
Raphael Lance, Head of Mirova Energy Transition funds said: “Thrilled to embark on a new chapter of collaboration, we celebrate the partnership with Hyperion, whose proven track record and ambitious vision in renewable energy align seamlessly with the strategy of Mirova. Having successfully partnered in the past, we are honored by the decision of Aytea and Pedro’s to open their capital to Mirova.”
Raphaël Lance, Head of Energy Transition Fund at Mirova, and Hélène Dimitracopoulos, Investment Director at Mirova, are joining the Board of Directors alongside existing shareholders Aytea Amandi, CEO of Hyperion, and Pedro Rezende, Chairman.
Hyperion Renewables was supported by Linklaters as the legal adviser and Evercore as the financial adviser. Other advisers of Hyperion included EY for financial and tax Due Diligence (DD), DNV for technical DD, and Aurora for market DD.
Mirova was supported by Cuatrecasas as legal and tax advisers, and G-Advisory as technical advisers.
1 The transaction will be finalized is subject to approval of the Portuguese competition authority (Autoridade da Concorrência).
Mirova
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.
www.mirova.com
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.
www.im.natixis.com
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.
Copyright © 2023 Natixis Investment Managers S.A. – All rights reserved
Hyperion was founded in 2006 and has, since then, registered a development track record of more than 50 large scale solar projects totaling over 640 MW that have reached Ready-to-Build (RtB) stage, with over 370 MW connected to the grid, of which 270 MW in Portugal. This represents close to 20% of all utility-scale solar capacity installed in Portugal by year-end 2022. Mirova’s investment will support Hyperion's strategic decision to continue its organic growth and transition from being a developer to an Independent Power Producer (IPP) of reference based in Iberia.
The capital injection1 will drive the initial deployment of 3.4 GW of Hyperion’s current pipeline, consisting of photovoltaic (PV), wind, storage, and green hydrogen projects, mainly in Portugal, for a holistic and diversified strategy to speed energy transition.
Hyperion is one of the leading renewables services providers in Portugal with more than 600 MW of assets under management, which have led the company to establish a strong organizational backbone to embrace the sector evolution anticipated for the next years, while maintaining a strong ESG focus. The company is well-positioned to capture the accelerated growth generated from the increasing renewable energy targets and the addition of new technologies (including storage and green hydrogen) and services, thanks to its highly experienced senior team with multi-GW development expertise.
Hyperion and Mirova have been collaborating since 2018, when Mirova acquired a 90% stake of PV Vale de Moura, a 28 MW solar project located in Évora, Portugal, developed by Hyperion that retained 10% equity. This pioneer project, in operation since 2019, represented an important milestone for Hyperion, as it was the first Iberian project with a long-term 10-year pool PPA (Power Purchase Agreement), signed with AXPO, and a project finance with Banco BPI. The stake of Hyperion in PV Vale de Moura and the asset management services allowed Hyperion and Mirova to maintain a close relationship that consolidated the trust and alignment between both parties, which will be reinforced by this new collaboration.
Aytea Amandi & Pedro Rezende, Hyperion’s CEO & Hyperion’s Founder and Executive Chairman said: “We are thrilled to announce a successful capital raise, that represents a significant milestone in Hyperion’s journey towards a sustainable future. Mirova is the right partner for the acceleration of this transition, since we have common core values and principles, as seen in the past years of our collaboration, as well as common development objectives for Hyperion. We will now be in a position to accelerate our efforts, driving innovation and expanding our impact, transforming our business, and contributing to the global transition to a greener and more sustainable tomorrow.”
Hélène Dimitracopoulos, Investment director overlooking Iberia at Mirova said: “This alliance amplifies our collective strength and expertise, forged through previous investments and shared commitment to pioneering sustainable energy solutions. Hyperion’s agility in navigating the complexities of the industry perfectly complements Mirova resources and investment strategy. Together, we intend to accelerate the construction of new renewable assets, driving impactful change and shaping a resilient, greener future.”
Raphael Lance, Head of Mirova Energy Transition funds said: “Thrilled to embark on a new chapter of collaboration, we celebrate the partnership with Hyperion, whose proven track record and ambitious vision in renewable energy align seamlessly with the strategy of Mirova. Having successfully partnered in the past, we are honored by the decision of Aytea and Pedro’s to open their capital to Mirova.”
Raphaël Lance, Head of Energy Transition Fund at Mirova, and Hélène Dimitracopoulos, Investment Director at Mirova, are joining the Board of Directors alongside existing shareholders Aytea Amandi, CEO of Hyperion, and Pedro Rezende, Chairman.
Hyperion Renewables was supported by Linklaters as the legal adviser and Evercore as the financial adviser. Other advisers of Hyperion included EY for financial and tax Due Diligence (DD), DNV for technical DD, and Aurora for market DD.
Mirova was supported by Cuatrecasas as legal and tax advisers, and G-Advisory as technical advisers.
Mirova
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.
www.mirova.com
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.
www.im.natixis.com
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.
Copyright © 2023 Natixis Investment Managers S.A. – All rights reserved