Mirova Joins Akuo to Finance 132 MW of Wind Power in Poland
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.
The Fund is exposed to capital loss risk, market risks, counterparty risk, credit risk, liquidity risk, project risk, operating risk, compliance risk, legal and regulatory risk, financial risk, and grid risk.
This document is for information purposes only. This document is issued to provide initial, preliminary information about the Fund and is subject to further updating, completion, revision, verification and amendment without notice. This document does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.
Mirova
Affiliate of Natixis Investment Managers
French Public Limited liability company with board of Directors.
Share Capital: €8 813 860
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP 02014.
RCS Paris n° 394 648 216
59 avenue Pierre Mendès France
www.mirova.com
Natixis Investment Managers
RCS Paris 453 952 681
Share Capital: €178 251 690
43 avenue Pierre Mendès 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.
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:
- Final close at €857m for Mirova-Eurofideme 4
- Mirova Eurofideme 4 hits first close at 250M€ to support the energy transition in Europe
- Mirova’s Goya project wins ‘europe wind deal of the year’ award at 2018 PFI awards
- Energy Transition: Clean investments for yield-hungry investors
- Mirova acquires 25 MW solar photovoltaic project in Portugal
- The Renewable Energy Market in Europe
- Mirova wins 3rd award in a row at SIATI 2017 with Mirova-Eurofideme 3
- Mirova recognised as “Energy Investor of the Year, Europe” for 2016 at the Infrastructure Investor Awards
- Mirova finalises the closing of its third renewable energy fund, with 350M€ commitment
- Mirova and Valeco team up to support green power
The Fund is exposed to capital loss risk, market risks, counterparty risk, credit risk, liquidity risk, project risk, operating risk, compliance risk, legal and regulatory risk, financial risk, and grid risk.
This document is for information purposes only. This document is issued to provide initial, preliminary information about the Fund and is subject to further updating, completion, revision, verification and amendment without notice. This document does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.
Mirova
Affiliate of Natixis Investment Managers
French Public Limited liability company with board of Directors.
Share Capital: €8 813 860
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP 02014.
RCS Paris n° 394 648 216
59 avenue Pierre Mendès France
www.mirova.com
Natixis Investment Managers
RCS Paris 453 952 681
Share Capital: €178 251 690
43 avenue Pierre Mendès 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.