French asset management company Mirova has announced a significant investment of €480 million (approximately $518 million) in RP Global, an independent power producer (IPP). This investment aims to support RP Global’s ambitious 2.5 GW pipeline of clean power projects across Europe.
Investment Details
- Funding Structure: The investment will be facilitated through the Mirova Energy Transition 6 (MET6) fund, which will contribute €200 million. An additional €280 million will come from a co-investment vehicle also managed by Mirova.
- Shareholding: This partnership allows the MET6 fund to become a relevant minority shareholder in RP Global, strengthening their long-term collaboration.
Strategic Importance
Mirova’s investment is aligned with the goals set by the Paris Agreement, which aims for net-zero emissions by 2050. According to Anne-Laure Messier, Mirova’s investment director, this investment will enable RP Global to enhance its IPP model on a European scale, reinforcing their commitment to sustainable energy solutions.
RP Global’s Portfolio
RP Global boasts a robust development portfolio of 14 GW of power projects, which includes a mix of solar, wind, and storage assets. This diverse portfolio positions RP Global as a key player in the transition to renewable energy in Europe.
Mirova’s €480 million investment in RP Global marks a significant step toward advancing clean energy initiatives across Europe. By supporting a substantial pipeline of renewable projects, both companies are contributing to the broader goal of achieving a sustainable energy future.
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