Asia-Pacific renewable energy firm Yanara has secured a €150m investment from Mirova to develop its utility-scale renewable energy portfolio in Australia.
Yanara, which is developing a 5.1GW portfolio of solar, wind and battery energy storage systems (BESS) assets across Australia, India and the Philippines, said it secured its first dedicated Australian capital raise from Mirova to support the expansion of its local pipeline.
The capital from the Natixis Investment Managers affiliate will support over 2GW of solar and BESS across Victoria, New South Wales and Western Australia.
Yanara said Mirova’s capital will largely support its flagship Mortlake Energy Hub in Victoria, which combines 450MW of solar with 600MW/2,400MWh of BESS across two stages.
Jerome Ortiz, CEO of Yanara, said: “Mirova is one of the world’s most respected sustainable investors, and we are proud to welcome them as our partner in Australia.
“We share a common vision of accelerating the energy transition through high-quality infrastructure that delivers long-term environmental, social and economic value. Together, we will help build the next generation of reliable and dispatchable renewable energy solutions for Australia.”
Raphael Lance, global head of private assets at Mirova, said: “Our investment in Yanara reflects Mirova’s long-term commitment to supporting the development of critical energy infrastructure that can accelerate Australia’s transition to a more resilient and low-carbon energy system.”
David Delmas, CEO, Australia, Yanara, said: “Australia’s energy market increasingly requires renewable power that is reliable, scalable and available when it is needed most. With Mirova’s support, we can accelerate the development of our gigawatt-scale pipeline and bring more hybrid renewable energy projects to market.”
Nicolas Hayon, managing director, energy transition funds, Mirova, said: “Australia’s energy transition is entering a pivotal phase, requiring significant investment in renewable generation and storage to support the phase-out of coal-fired power and meet rising electricity demand.
“We believe Yanara is ideally positioned to contribute to this transition through its high-quality seed portfolio and differentiated development capabilities.”
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