Mirova and Valeco Team up to Support Green Power
The Valeco Group, a major player in renewable energy project development in France, has sold 49% of a holding company owning nine wind and solar power projects in France to Mirova-Eurofideme 3, a fund managed by Mirova, a subsidiary of Natixis Asset Management dedicated to responsible investment, The projects were developed and will be built by the Valeco Group which retains the remaining 51% ownership.
The projects will become operational gradually between 2016 and 2018 and will generate 430 GWh of green power per year, the equivalent of the annual consumption of approximately 140,000 homes. The Valeco Group will manage the construction of all of the projects and then will operate and maintain the wind farms and the photovoltaic plants.
The total investment amounts to nearly €300 million, part of which has been financed by project finance debt provided by a pool of French banks. The banks provided the Valeco Group and Mirova with an innovative financial structure which will allow to optimize the construction of the projects. Following this new transaction, Mirova-Eurofideme 3 will have completed 12 investments in the amount of approximately €160 million (out of the fund's capacity of €350 million) since its creation and contributed to the financing of nearly 580 MW of renewable energy projects.
Note to the reader
Investments in Infrastructure portfolios are reserved for specific investors, as defined by their respective regulatory documentation. Regulatory Documents of Funds provide the source of information on these Funds. Their investment objectives, strategies and main risks are described in their respective regulatory documents. Their fees, charges and performances are also described in these documents.
About Mirova
Mirova, an asset management company wholly owned by Natixis Asset Management1, brings to bear almost 30 years of experience in Socially Responsible Investing (SRI). Mirova offers a conviction-driven approach in order to combine value creation with sustainable development with a unique and global product offering: listed equities, fixed income, infrastructure, impact investing, voting and engagement. With 63 employees, Mirova has €6 billion in assets under management2.
1 Since 01.01.2014.
2 Source : Natixis Asset Management as at 30 June 2016.
Mirova
A subsidiary of Natixis Asset Management
Limited liability company
Share Capital: €7 641 327.50
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP 02014.
RCS Paris n° 394 648 216
21 quai d’Austerlitz 75013 Paris France
www.mirova.com
The analyses and opinions referenced herein represent the subjective views of the author as referenced, are as of the mentioned date, and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
This material has been provided for information purposes only to investment service providers or other Professional Clients, Qualified or Institutional Investors and, when required by local regulation, only at their written request.
The projects will become operational gradually between 2016 and 2018 and will generate 430 GWh of green power per year, the equivalent of the annual consumption of approximately 140,000 homes. The Valeco Group will manage the construction of all of the projects and then will operate and maintain the wind farms and the photovoltaic plants.
The total investment amounts to nearly €300 million, part of which has been financed by project finance debt provided by a pool of French banks. The banks provided the Valeco Group and Mirova with an innovative financial structure which will allow to optimize the construction of the projects. Following this new transaction, Mirova-Eurofideme 3 will have completed 12 investments in the amount of approximately €160 million (out of the fund's capacity of €350 million) since its creation and contributed to the financing of nearly 580 MW of renewable energy projects.
Investments in Infrastructure portfolios are reserved for specific investors, as defined by their respective regulatory documentation. Regulatory Documents of Funds provide the source of information on these Funds. Their investment objectives, strategies and main risks are described in their respective regulatory documents. Their fees, charges and performances are also described in these documents.
About Mirova
Mirova, an asset management company wholly owned by Natixis Asset Management1, brings to bear almost 30 years of experience in Socially Responsible Investing (SRI). Mirova offers a conviction-driven approach in order to combine value creation with sustainable development with a unique and global product offering: listed equities, fixed income, infrastructure, impact investing, voting and engagement. With 63 employees, Mirova has €6 billion in assets under management2.
1 Since 01.01.2014.
2 Source : Natixis Asset Management as at 30 June 2016.
Mirova
A subsidiary of Natixis Asset Management
Limited liability company
Share Capital: €7 641 327.50
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP 02014.
RCS Paris n° 394 648 216
21 quai d’Austerlitz 75013 Paris France
www.mirova.com
The analyses and opinions referenced herein represent the subjective views of the author as referenced, are as of the mentioned date, and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
This material has been provided for information purposes only to investment service providers or other Professional Clients, Qualified or Institutional Investors and, when required by local regulation, only at their written request.