Mirova Raises €2bn for Sixth Energy Transition Infrastructure Fund, Targeting Net Zero

Asset manager Mirova plans to launch its sixth strategy dedicated to energy transition infrastructure, aiming to raise up to €2bn subject to regulatory approval.

The strategy – Mirova Energy Transition 6 (MET6) – will support decarbonisation mainly in Europe, helping to meet the financing needs for infrastructure essential for climate-friendly energy production and consumption.

The firm shared it will retain “flexible investment approaches – majority or minority stakes and equity financing or subordinated debt”.

MET6  succeeds the Mirova Energy Transition 5 launched in February 2021 that exceeded its target, raising €1.6bn in a year and a half, it stated.

Mirova is a wholly-owned subsidiary of Natixis Investment Managers, one of the largest asset managers in the world

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This strategy will fund well-established technologies like wind power, solar panels, hydropower, energy storage and energy efficiency. It will also keep backing the growth of clean electric vehicles and hydrogen stated the firm.

Although the focus is on Europe, the company also mentioned that some investments might be allocated to other Organization for Economic Cooperation and Development (OCED) member nations.

The firm also plans to replicate successful models to collaborate with European developers in new regions, particularly Asia.

Mirova’s energy transition infrastructure team, which works on OECD funds and manages €3.5bn, will lead the project and get support from Mirova’s Singapore office in fundraising and deployment.

Source: Funds Europe

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