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>>>EIB invests EUR 40m in Mirova Eurofideme 3

EIB invests EUR 40m in Mirova Eurofideme 3

09/01/2015

The European Investment Bank (EIB) has undertaken to invest EUR 40m in Mirova Eurofideme 3, the third renewable energy fund of Mirova, Natixis Asset Management's subsidiary for responsible investment.

This environmentally responsible investment by the EIB should be seen in the context of the priority attached by the European Union (EU) to climate action. In October 2014 the European Council adopted a target for the EU whereby renewable energy was to account for at least 27% of energy consumption by 2030 – a decision that made a significant contribution to the European Union's action plan in this area, which is at the heart of the preparations for the 21st United Nations Conference on Climate Change (COP, 21), due to be held in Paris at the end of 2015.

In this context the EIB's investment in the specialised Mirova Eurofideme 3 fund is emblematic. It will help to attract other investors in France and Europe to invest in the renewable energy sector, the key being the implementation of projects with a high economic and social impact.

Mirova's strategy is to contribute proactively towards mobilising capital to achieve a low-carbon economy. The launch in mid-2014 of Mirova Eurofideme 3, Mirova's third fund targeting renewable energy projects in Europe, demonstrates this proactive approach. To launch this fund, Mirova has relied on its 12 years of experience in managing projects in this field, which have enabled it to finance nearly 700 MW of new wind and solar photovoltaic projects in France and Sweden.