United Kingdom
Mirova is providing a senior debt financing of 10 million dollars to Namdev Finvest Private Limited (“Namdev”) through its blended finance debt fund dedicated to energy transition in emerging countries. This marks Mirova's first energy transition financing in India and the first Asian project funded by the Mirova Gigaton Fund1. Namdev is an Indian non-banking financial company specialising in secured lending to small and medium-sized enterprises, particularly in rural and semi-urban areas. Namdev enables entrepreneurial ventures, especially in the sectors of responsible mobility and energy, benefiting underprivileged individuals.
Monthly market review and outlook
OpenAirlines, a pioneer in software solutions for eco-piloting, has announced the successful raising of nearly €45 million, led by Eiffel Investment Group and supported by Mirova, a committed player in sustainable investment. This fundraising aims to strengthen OpenAirlines’ position in the ecological transition of the aviation sector, facilitating its expansion into North America and Asia.
As a pioneering player in the field of financing conservation and restoration of nature, Mirova played an active role at COP161 and the GIIN2 Impact Forum, advocating for the need to develop tools and regulations aimed at directing capital towards biodiversity, as well as emphasizing the importance of multilateral actions by countries (North and South), and by public, private, and philanthropic financial actors.
The total amount of €480 million consists in equity and convertible bonds. The transaction covers the following markets: Italy, Germany, France, Spain, Portugal, Poland and Croatia. Mirova Energy Transition 6 (MET6)1, Mirova's sixth fund dedicated to energy transition infrastructure, will invest €200 million, allowing another co-investment vehicle managed by Mirova to invest €280 million, and will become a relevant minority shareholder in RP Global. RP Global is a 40-year-old independent pan-European developer specialising in wind, solar photovoltaic, and storage projects.
Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable finance, has been selected by a consortium of 11 institutional investors – Abeille Assurances (Aéma Group), BNP Paribas Cardif, BPCE Assurances, the Caisse des Dépôts, CNP Assurances, EDF Gestion, MAIF, MACIF (Aéma Group), Malakoff Humanis, Société Générale Assurances, Crédit Agricole Assurances – along with Af2i to manage the fund “Objectif biodiversité“, following a consultation organized with the support of the consulting firms I Care by BearingPoint and Amadeis. With over €100 million and an initial duration of 5 years, this listed fund will primarily focus on small and medium-sized European companies, with a dual objective: to support businesses transitioning to sustainable business models and to invest in innovative solutions for biodiversity preservation.
Monthly market review and outlook
On Thursday, the Estonian energy company Evecon and Mirova, an asset manager dedicated to sustainable finance, opened the largest solar park in the Baltics, located in Kirikmäe in Pärnu County. The production capacity of the Kirikmäe park, spread over nearly 110 hectares, is 77.53 MW, which is more than twice the capacity of the largest existing solar park in Estonia. It covers the estimated annual energy needs of 35,000 households. The Kirikmaë Park is owned by the Baltic Renewable Energy Platform (BREP), a joint venture set up by Evecon and Mirova in December 2022, for the financing, the construction, the operation of a portfolio of more than 100 MWp of Solar Parks in Estonia.
