Mirova Targets €2 Billion for its Sixth Strategy Dedicated to Energy Transition Infrastructure
Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable finance, announces the project launch of its sixth strategy dedicated to energy transition infrastructure1, aiming to raise up to €2 bn. This new vintage will continue to support decarbonization, mainly in Europe, where the need for diverse renewable energy sources has never been greater.
The investment strategy will help to meet the financing needs for resilient infrastructure that is es-sential to the decarbonization of energy production and consumption. It will build on the success of previous Mirova’s energy transition strategies and will retain flexible investment approaches - majority or minority stakes and equity financing or subordinated debt2 – drawing on the solid tech-nical expertise of its teams and their strong relationships with established players in the industry. The new investment strategy succeeds Mirova’s fifth energy transition strategy: launched in February 2021, it exceeded its target, raising 1.6 billion euros in less than 18 months.
The new strategy will aim to finance proven technologies (onshore and offshore wind power, pho-tovoltaics, hydropower, storage and energy efficiency) while continuing to support the development of low-carbon electric mobility and hydrogen. The investment team will seek to identify project promoters and provide them with the financial resources to support their development phase, throughout the projects’ entire life cycles.
While the strategy's core deployment target remains Europe, part of the investments could be made in other OECD3 member countries. By duplicating proven models, Mirova aims to extend the part-nerships forged with European developers in new regions, notably in Asia.
To support this growth, Mirova's Energy Transition Infrastructure team, which works on OECD strategies, now employs 29 people (up from 22 in 2022). With over 20 years' investment experience in renewable energy, the team manages €3.5 billion and has financed over 1,000 projects in 48 coun-tries in Europe, Asia and Africa4. It will be supported by Mirova's division of Natixis Investment Managers, Singapore in both its fundraising and deployment.
Raphaël Lance, Managing Director of Energy Transition Funds at Mirova, comments: "We are proud to continue our investments with this new vintage, and to offer it to institutional investors wishing to contribute to the fight against global warming. The strategy will provide substantial capital to finance and support the development of innovative players across the clean energy value chain, and help accelerate decarbonization in Europe. As a responsible investor, Mirova is pursuing its commitment to investment solutions that aim to combine returns with a positive impact on society”.
To ensure that global warming does not exceed 1.5°C, as set out in the Paris Agreement, green-house gas (GHG) emissions must be reduced by 55% by 2030, and reach net zero emissions by 2050. To achieve this, massive investment in clean energies is required, in the order of US$4-5,000 billion per year worldwide by 2030.5
As a mission-driven company6, Mirova is committed to contributing to the financing of a more sus-tainable economy, through its experience in energy transition infrastructure. With this new launch project, Mirova is responding to the challenges of European energy sovereignty and reinforcing its position as a market leader.
This document is for information purposes only and does not constitute an offer, proposal or solicitation to investors to invest in any project or product. This document does not represent a commitment by Mirova to structure any product described herein or any other product.
1 Mirova’s fifth energy transition strategy, launched in February 2021, exceeded its target, raising 1.6 billion euros in less than 18 months.
2 A debt is said to be “subordinated” if its repayment depends on the prior repayment of other creditors.
3 Organisation for Economic Co-operation and Development (OECD).
4 Source: Mirova as of September 30, 2023
5 Source: World Economic Forum
6 Article 176 of the law of 22 May 2019 on the growth and transformation of businesses, known as the Pacte law, introduces the status of mission-driven company. It allows a company to publicly state its status as a mission-driven company by specifying its raison d’être as well as one or more social and environmental objectives that the company has set itself as a mission to pursue in the course of its business.
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
The investment strategy will help to meet the financing needs for resilient infrastructure that is es-sential to the decarbonization of energy production and consumption. It will build on the success of previous Mirova’s energy transition strategies and will retain flexible investment approaches - majority or minority stakes and equity financing or subordinated debt2 – drawing on the solid tech-nical expertise of its teams and their strong relationships with established players in the industry. The new investment strategy succeeds Mirova’s fifth energy transition strategy: launched in February 2021, it exceeded its target, raising 1.6 billion euros in less than 18 months.
The new strategy will aim to finance proven technologies (onshore and offshore wind power, pho-tovoltaics, hydropower, storage and energy efficiency) while continuing to support the development of low-carbon electric mobility and hydrogen. The investment team will seek to identify project promoters and provide them with the financial resources to support their development phase, throughout the projects’ entire life cycles.
While the strategy's core deployment target remains Europe, part of the investments could be made in other OECD3 member countries. By duplicating proven models, Mirova aims to extend the part-nerships forged with European developers in new regions, notably in Asia.
To support this growth, Mirova's Energy Transition Infrastructure team, which works on OECD strategies, now employs 29 people (up from 22 in 2022). With over 20 years' investment experience in renewable energy, the team manages €3.5 billion and has financed over 1,000 projects in 48 coun-tries in Europe, Asia and Africa4. It will be supported by Mirova's division of Natixis Investment Managers, Singapore in both its fundraising and deployment.
Raphaël Lance, Managing Director of Energy Transition Funds at Mirova, comments: "We are proud to continue our investments with this new vintage, and to offer it to institutional investors wishing to contribute to the fight against global warming. The strategy will provide substantial capital to finance and support the development of innovative players across the clean energy value chain, and help accelerate decarbonization in Europe. As a responsible investor, Mirova is pursuing its commitment to investment solutions that aim to combine returns with a positive impact on society”.
To ensure that global warming does not exceed 1.5°C, as set out in the Paris Agreement, green-house gas (GHG) emissions must be reduced by 55% by 2030, and reach net zero emissions by 2050. To achieve this, massive investment in clean energies is required, in the order of US$4-5,000 billion per year worldwide by 2030.5
As a mission-driven company6, Mirova is committed to contributing to the financing of a more sus-tainable economy, through its experience in energy transition infrastructure. With this new launch project, Mirova is responding to the challenges of European energy sovereignty and reinforcing its position as a market leader.
1 Mirova’s fifth energy transition strategy, launched in February 2021, exceeded its target, raising 1.6 billion euros in less than 18 months.
2 A debt is said to be “subordinated” if its repayment depends on the prior repayment of other creditors.
3 Organisation for Economic Co-operation and Development (OECD).
4 Source: Mirova as of September 30, 2023
5 Source: World Economic Forum
6 Article 176 of the law of 22 May 2019 on the growth and transformation of businesses, known as the Pacte law, introduces the status of mission-driven company. It allows a company to publicly state its status as a mission-driven company by specifying its raison d’être as well as one or more social and environmental objectives that the company has set itself as a mission to pursue in the course of its business.
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