Solveo Energies accelerates its energy transition development with a fundraising round of nearly €100 million led by Mirova
May 30, 2025
- Solveo Energies, a Toulouse-based independent French renewable energy producer committed to the energy transition and firmly established in the regions, announces a strategic fundraising of €98 million.
- This transaction is being led by Mirova, a Natixis Investment Managers affiliate dedicated to sustainable investment, which is investing in equity alongside the existing shareholders.
- This funding marks a turning point for Solveo Energies, as it enters a new phase in its expansion: moving from structuring to implementing its projects, with a clear goal for 2030.
A STRONG AMBITION: PRODUCING SUSTAINABLE ENERGY FOR THE FRENCH REGIONS
Founded in 2008, Solveo Energies has built a unique business model in the renewable energy landscape: a human-sized, innovative, independent company with deep local roots.
“From the start, we made the decision to bring all key skills in-house so that we could control the entire value chain. This is what enables us to roll out our projects in an agile and responsible manner, in line with local needs today. It also guarantees a tangible sharing of the value generated.” Alexandre Paganel, Deputy Chief Financial Officer at Solveo Energies.
Solveo Energies is built on the following key pillars:
- Complete control of the value chain: development, financing, construction, operation,
- Strong local roots, based on active listening, transparency and co-construction with local stakeholders,
- Balanced technological diversification between ground-mounted solar, rooftop solar and wind power,
- A culture of innovation, with a particular focus on agrivoltaic projects and new uses of energy such as individual and collective self-consumption.
PROGRESS ALREADY UNDERWAY, WITH FURTHER ACCELERATION TO COME
This latest fundraising comes on the heels of the first operation carried out with existing investors, which enabled Solveo Energies to become an Independent Power Producer (IPP)1 by internalising all the skills required to carry out its projects from start to finish.
Since then, Solveo Energies has secured the support of major partners such as SNCF in 2024, with which it has signed a major Corporate Power Purchase Agreement (PPA), demonstrating its ability to deliver reliable, competitive projects that are aligned with climate targets.
With Mirova's acquisition of a stake in the company, Solveo Energies is bolstering its resources to:
- Accelerate the commissioning of its portfolio of projects under development,
- Aiming to achieve 800 MW of installed capacity by 2030 thanks to an investment of nearly €875 million,
- And actively contribute to France's carbon neutrality goals.
“We are very proud to welcome Mirova to our entrepreneurial adventure. This transaction reinforces our model as an independent, regionally-rooted player. Thanks to this long-term strategic partnership, we now have the resources to accelerate our development, consolidate our portfolio and remain true to our convictions: to produce sustainable, local energy that respects the regions.” Jean-Marc Mateos, Chairman of Solveo Energies.
“Our partnership with Solveo Energies, a committed player in the renewable energy sector, demonstrates that we firmly believe in their potential. Their local roots, their ability to deliver innovative projects and their responsible approach to the energy transition are perfectly in line with our investment strategy. We are confident that Solveo Energies will be able to turn its ambitions into success in the service of decarbonisation and help France increase its energy sovereignty.” Raphaël Lance, Head of Energy Transition Funds at Mirova.
“We are delighted to be joining Solveo Energies. We were particularly impressed by the talent of the teams, the relevance of the asset portfolio, the rigour of the processes and the company's clear strategic vision. This transaction fits perfectly with our portfolio strategy, which selects committed and successful players in the energy transition.” Jocelyn Dioux, Investment Director at Mirova.
Solveo was advised by Natixis Partners on the M&A side, and Jeantet and RSG as legal advisors. Technical due diligence was carried out by Syneria, financial due diligence by KPMG, and legal/tax due diligence by De Gaulle Fleurance.
Mirova was advised by Gottengreen on the M&A side, White & Case as legal advisor. Technical due diligence was carried out by DNV and PwC conducted financial and tax advice.