Mirova-Eurofideme 4, Mirova’s fourth equity investment fund dedicated to financing energy transition infrastructure
, allies with Akuo
, an independent global renewable energy power producer and developer, to finance three wind power projects in Poland. With a capacity of 132 MW, the three power plants will have a total of 53 turbines supplied by manufacturer Vestas
and will be operated by Akuo’s local teams.
Developed over a several years, these projects won the tender launched by the Polish government in late 2018. Beyond its desire to reduce its dependence on imported fossil energy, the Polish government is intensifying its efforts in the field of renewable energy in order to achieve the minimum threshold of 15% of renewable energy in its end consumption of energy by 2020, in accordance with the National Renewable Energy Action Plan
. Within the framework of the country’s energy policy through to 2040, the government is targeting a 60% reduction in the share of coal in its electricity production by 2030 and an increase in the proportion of renewable energy to 27% by 2040. Within the framework of the country’s energy policy through to 2040, the government is targeting a 60% reduction in the share of coal in its electricity production by 2030 and an increase in the proportion of renewable energy to 27% by 2040.
“These projects are a key landmark for Mirova as they represent our first investment in Poland and we are proud to play an active role in this first batch of renewable projects benefitting from the energy support scheme in the country. We are very pleased to be a partner of Akuo as it gives us great confidence on the quality of the development and the successful realisation of those projects,
” said Raphaël Lance, Directeur des fonds de transition énergétique.
The wind farms are expected to become operational in 2021 and will produce 100% green energy that will meet the electricity requirements of more than 200,000 Polish homes whilst avoiding the emission of over 300,000 metric tons of CO2 per year. Mirova-Eurofideme 4 announced its final close at €858m in November
. With this operation, it deployed near €400m and financed over 700MW of projects throughout Europe. Read Akuo’s press release
.For further reading:
Mirova Eurofideme 4 is a Société de Libre Partenariat (French limited partnership), not subject to the approval of the French Market Authority and reserved for eligible investors only, in accordance with the Fund Regulation. The Fund is currently authorized to be marketed in France, Italy, Spain, Luxembourg, the UK, Slovenia and South Korea.
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