Energy Transition Infrastructure

The energy transition will only take place if the necessary infrastructure exists to support it.

Mirova develops investment strategies enabling investors to support the energy transition through the construction and management of renewable energy production, storage and clean mobility infrastructures projects in Europe.


Investing to support the European energy transition

Our objective is to provide institutional clients with long-term value creation opportunities while supporting the sustainability of local economic, community and environmental development.

Since 2002, Mirova has been involved in the energy transition by financing new renewable energy production capacities and by investing in operating projects using mature technologies (photovoltaic solar, wind, hydroelectric).

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Thanks to its in-depth knowledge of the French and European renewable energy market and an extensive network of partners, Mirova has constructed a strong investment platform dedicated to the energy transition, whose scope of intervention extends to the energy transition as a whole: storage, biogas, hydropower, hydrogen and electric mobility, all over Europe.

Key Figures

bn €

assets under management


of energy transition infrastructure funds


of experience in structuring and managing energy transition funds


energy transition projects financed across 10 countries in Europe


of clean energy installed capacity financed

Source: Mirova as of December 31, 2022

Why invest in energy transition infrastructure?

Renewable energy is one of the fastest growing segments within the infrastructure market and clean energy production, grid connection, storage and electric transportation represent a compelling investment opportunity in the move towards a low-carbon economy.

A transition in motion

  • An increase of the share of renewable energy in energy consumption in the European Union: from 9,6% in 2004 to c. 20% in 2020.
  • The European target is 32% by 20301. In order to achieve this goal, massive investments are required, €1.7 trillion2 over the next 10 years.
  • It also represents an opportunity for institutional investors to play a role in the fight against climate change.

An evolving industry

  • In terms of competitiveness: the ever-falling clean energy production cost puts renewables at parity with conventional generation sources.

  • In terms of innovation: growing number of solutions to the energy transmission, distribution and storage challenges enable integration of existing and emerging renewable technologies in energy systems.

  • In terms of financing: mature renewable energy technologies allow a sound cash flow predictability.

A robust investment theme

  • A way to diversify a portfolio: long-term investments in tangible assets with relatively steady, low volatile, inflation-linked cash flows and low correlation to the business and capital market cycles.
  • Attractive yield potential

A wide range of investment opportunities

Involved from the very beginning in the financing of renewable-sourced energy production infrastructures, Mirova has a unique perspective on this market, contributing to projects that are new, whether in terms of technology, maturity or geography.

Discover our funds

A team of 20 experts dedicated to financing energy transition infrastructures

Drawing on complementary skills from a broad array of disciplines (industrial project development, M&A, transactions services, carbon market, public policy…), the team brings know-how and experience to bear on the financing and management of complex renewable energy projects.

An award-winning infrastructure manager

A key European investor in the field of energy transition infrastructures, Mirova is regularly rewarded3 for the quality work of its teams.


2020 "Most innovative investment strategy" on infrastructures, SIATI


2019 "European Renewables Energy Investor of the year", Infrastructure Investor


2019 "European Energy Investor of the year", Infrastructure Investor


2018 Winner of the "Infrastructure Greenfield" category, Swen Capital ESG Best Practice Honours


2018 "Europe Wind Deal of the Year", Project Finance International


2017 Gold Medal in "Best Green Strategy", SIATI

Our impact-driven approach




We have created an innovative opt-in impact scheme to finance non-profit projects related to fighting against energy poverty and energy access.


We concretely avoid CO2 emissions: 56,377 tons of CO2 emissions avoided since creation6.


We use a pioneering lifecycle approach to environmental, social and biodiversity risks/opportunities assessment.


Our investments contribute to the development of skilled and decent jobs in the energy transition sector in all the geographies where we operate


We sponsor research programs on our projects’ sites in order to increase and share knowledge on biodiversity topics in the context of renewable energy projects.

(1) Source: European Commission, Eurostat.
(2) Source: International Renewable Energy Agency (IRENA)’s Global Energy Transformation Report- A roadmap to 2050

(3) Reference to a ranking and/or an award does not indicate the future performance of the UCITS
/AIF or the fund manager.

(4) 2°C internal limits non-binding and not mentioned in our fund regulatory documentation, subject to change by Mirova without prior notice. The carbon impact of investments is calculated using a proprietary methodology that may involve bias.
(5) The Paris Agreement sets out a global framework to avoid dangerous climate change by limiting global warming to below 2°C

(6) Between 2015 and 2019 for all Mirova's energy transition infrastructure funds. Source: Mirova
Discover some of the infrastructure projects financed by Mirova

Cestas CESTAS-transition-energetique-ùirova-photovoltaique
RP Global Europe rp-global-mirova-transition-energetique-eolien-hydroelectrique
Corsica Sole corsica-sole-photovoltaique-energie-renouvelable
Masaï eolien-solaire-mirova-investor-transition-energetique
Cogénération Biomasse Novillars (CBN) energie-biomasse-investissement
DANA GAZ engie-mirova-gana-gaz-biogas
RES RES-eolien-suede©ferdinand-stohr
MONET monet-hydoelectric-engie-cnp-assurances-mirova
WINDSKA windska-poland-windfarm-GettyImages
DRIVECO DRIVECO-mobilite-electrique
  • Solar PV | France
  • Sponsor: Neoen
  • Capacity: 300 MW


Read more
RP Global Europe
  • Windfarms & Hydro Portfolio | Europe
  • Sponsor: RP Global
  • Capacity: 254 MW (Enercon, GE)


Read more
Corsica Sole
  • Solar PV + ESS | France
  • Sponsor: Corsica Sole
  • Capacity: 40 MW (SunPower, NIDEC)
Read more
  • Windfarms & Solar PV Portfolio| France
  • Sponsor: Valeco
  • Capacity: 180 MW (Vestas, Enercon, Silia)
Read more
Cogénération Biomasse Novillars (CBN)
  • Wood | France
  • Sponsor: Akuo
  • Capacity: 63 MWth (AET)
Read more
  • Biogas | France
  • Sponsor: Engie
  • Capacity: 17.5 MW
Read more

In April 2020, ENGIE and MIROVA announced this strategic partnership in the biogas sector with the acquisition by our fourth investment strategy dedicated to energy transition infrastructure of a 50% stake into DANA GAZ, a company owning 9 operating biogas plants developed and owned by ENGIE.

The biomethane sector will contribute to a circular economy by recovering waste, creating jobs and supporting agriculture, a key sector for the security of food and energy supply.

  • Windfarms | Sweden
  • Sponsor: RES
  • Capacity: 85.8 MW
Read more

Conceded to Mirova in April 2020, the Rödene wind farm is located near Alingsås in Västra Götaland, Sweden. The project consists of 13 turbines with a total installed capacity of 85.8 MW, equivalent to powering 40,000 homes in Sweden, representing an annual saving of 230,000 tonnes of CO2 equivalent.

  • Hydroelectric | Portugal
  • Sponsor: Engie
  • Capacity: 1.7 GW
Read more

A partnership between Engie, CNP Assurances et Mirova, the hydroelectric portfolio has a generation capacity of 1.7 GW with a weighted average remaining concession term of 45 years and includes three newly commissioned pump storage units along with three recently repowered run-of-river plants.

  • Windfarms | Poland
  • Sponsor: Akuo
  • Capacity: 132 MW
Read more

A partnership between Mirova and Akuo, 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.


Electric mobility | Europe 

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As an expert in electric and solar mobility, DRIVECO is continuing its development in an exponentially growing market for recharging solutions for electric vehicles. The company also offers a range of 100% solar-powered recharging stations combining charging stations, photovoltaic energy and intelligent real-time energy management.

Energy Transition Infrastructure: Impact Report 2021
Energy Transition Infrastructure: Impact Report 2021
Published on 07/11/2022

Discover the 2021 Impact Report for Mirova's Energy Transition Infrastructure platform.

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Akuo and Mirova have put three wind power plants into service in Poland
Published on 10/13/2021

Akuo, an independent global renewable energy power producer and developer, announces the activation of three wind power plants in Poland, in partnership with Mirova, to mark the inauguration of the Wielowieś power plant. The inauguration took place in the presence of Frederic Billet, Ambassador of the French Republic in Poland, Ginter Skowronek, Mayor of Wielowieś, Patrice Lucas, CEO of Akuo, and Fabien Villacampa, Investment Director at Mirova.

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3i Group, Mirova, Banque des Territoires invest 80M€ into zero-emission mobility financing specialist NEoT Green Mobility
3i Group, Mirova, Banque des Territoires invest 80M€ into zero-emission mobility financing specialist NEoT Green Mobility
Published on 10/06/2021

Mirova, through its Mirova-Eurofideme 4 fund1, invests €60m together with 3i Group plc, through its 3i European Operational Projects Fund, in NEoT Green Mobility (“NGM” or the “Company”) to fund its pipeline of projects, while Banque des Territoires is investing an additional €20m. The funding round takes the total equity investment capacity of the Company to €100m. Historical shareholder EDF Pulse Croissance (the EDF Group corporate venture activity) renews its trust in the Company by keeping its involvement in its capital while Mitsubishi Corporation is exiting.

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Renewable energy in light of grid parity
Published on 06/28/2021

The gradual reduction of public support measures is ushering renewable energies into a new era: that of autonomy on electricity trading markets. The way in which the associated risks are managed (volatility, cannibalisation effects, modification of the supply/demand equilibrium, buyer consideration, etc.) therefore becomes a fundamental issue in the project’s business plan and consequently for all stakeholders. In this article, Mirova offers a look at merchant risk, how it can be analysed, the strategies to guard against it and the opportunities that can be seized.

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Renewable infrastructure as an asset class
Renewable infrastructure as an asset class
Published on 05/03/2021

One of the most important challenges for institutional investors is to deploy large amounts of capital and manage increasingly high liability commitments in an environment of low-yielding opportunities. At the same time, one of the biggest challenges for the world as a whole is dealing with climate change, its impacts on the economy and more broadly with what it already implies in terms of adaptation for all humanity. While seemingly disparate, these two challenges have converged to a point where they become synergetic: today, the renewable energy production infrastructure sector has reached maturity and offers investment opportunities with a good risk/return ratio, while participating in the reduction of greenhouse gas emissions. For investors, renewable energy infrastructure has thus established itself as an asset class in its own right.

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Corsica Sole
Mirova acquires a stake in Corsica Sole
Published on 04/21/2021

Solar energy producer, developer, and storage operator Corsica Sole has signed a strategic agreement with Mirova. Mirova is taking a minority stake in the company and is setting up a bond financing programme for a total investment that could reach €80 million.

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