In line with its responsible investor philosophy, Mirova is committed ...
Mirova finalizes the closing of its third renewable energy fund, with 350M€ commitment
Mirova, Natixis Asset Management’ responsible investment manager, announced the final closing of its renewable energy fund Mirova-Eurofideme 3, with 350M€ commitment, well above its 200M€ initial target.
The fundraising has benefited from support by both existing and new institutional investors from several European countries, including the European Investment Bank which invested 40M€.
Mirova-Eurofideme 3 has already made 8 investments to date for close to 100M€, in partnership with independent power producers and developers, financing more than 300MW of solar, wind and hydro projects across Europe, with France and the Nordics being its key markets.
This is the third investment fund managed by Mirova dedicated to investing in equity in greenfield renewable energy assets in Europe, since the launch of the dedicated Mirova renewable activity in 2002. Its first two funds, Fideme and Eurofideme 2, already contributed to finance more than 700MW of renewable energy assets. Mirova Renewable Energy team received the 2015 award for “Best Green Strategy” at the SIATI Infrastructure Summit at year-end 2015. Mirova-Eurofideme 3 was one of the first infrastructure funds to receive the new “Energy and Ecological Transition for Climate” label promoted by the French Ministry of Ecology, Sustainable Development and Energy since May 2016 to reward investors active in financing the energy and ecological transition. Mirova has also received the LuxFLAG label, for the quality of ESG implementation and reporting to investors.
Raphael Lance, Head of Renewable Energy Funds at Mirova, commented: "We are very proud to strengthen the relationship we have built over time with our existing investors. Reinvesting with us is a true vote of confidence. We are also thrilled that so many renown investors, coming from different geographies and so many different profiles, have decided to entrust Mirova for the first time to deploy their capital in renewable energy projects. We will continue to actively search for the best opportunities in this growing market, leveraging on our network of high quality industrial partners.”
Philippe Zaouati, CEO of Mirova, added: "The success of Mirova-Eurofideme 3’s fundraising is a positive feedback to our continuous effort to offer to institutional investors solutions which address climate issues and to introduce ESG criteria into diversified asset classes, including green bonds, thematic listed equity strategies, and in particularly sustainable infrastructure, in which assets under management are fast growing, now reaching 1.6 Mds€”.