Mirova achieves EUR-250m renewables fund closing

Wind turbines in France. Source: ABO Wind

November 20 (Renewables Now) - Mirova, a wholly-owned unit of France's Natixis Asset Management, has raised EUR 250 million (USD 286.3m) for mature renewables, energy storage and electric mobility projects.

The French firm secured the funds in the first close of its Eurofideme 4 fund, it said on Monday. Apart from a large number of its existing investors, Mirova also received commitments from new European investors.

The final size of the fund is expected to reach between EUR 500 million and EUR 700 million, which will go mainly for renewable energy projects, battery storage, electric mobility and charging infrastructures across Europe.

“At Mirova, we believe that reaching a first close with a large majority of our long-term investors demonstrates that financing tomorrow’s infrastructure is now a top priority for institutional investors,” said Raphael Lance, head of energy transition funds at Mirova.

The French firm’s Eurofideme 3 renewable energy fund closed at EUR 353 million in the summer of 2016. It is now fully invested in a diversified portfolio of European infrastructure assets, Mirova said.

(EUR 1.0 = USD 1.145)

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