Energy storage developer TagEnergy has received a €450m capital injection to support delivery of its 2700MW portfolio of projects in Europe and Australia.
Mirova, a French sustainable asset manager, and affiliate of Natixis Investment Managers, and Omnes, a private equity and infrastructure investor made the investment.
The €450m capital injection will drive the initial delivery of TagEnergy’s growing portfolio of more than 2.7GW in five countries spanning the UK, Spain, Portugal, France and Australia.
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Impala and TagTeam Holding, the holding company for TagEnergy’s manager-shareholders, will continue to control the company.
Impala remains the main shareholder with the largest stake under the new shareholding structure.
Mirova and Omnes each hold a strong minority share.
Raphael Lance, head of Mirova Energy Transition Funds, and Omnes partner Marc-Philippe Botte will join the TagEnergy board.
TagEnergy Chief Executive Officer Franck Woitiez welcomed the capital injection from major like-minded investors and said the business would use the funds to deliver and grow its pipeline of projects across multiple international markets.
Source: Renewbiz
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