Mirova is investing €480m in European renewable energy company RP Global to help it expand its infrastructure projects.
The deal involves Mirova’s sixth energy transition infrastructure fund, Mirova Energy Transition 6, investing €200m in RP Global, with another Mirova co-investment vehicle contributing an additional €280m.
Established in 1984, RP Global specialises in the development of wind, solar photovoltaic and energy storage projects.
Gerhard Matzinger, CEO of RP Global, said: “The new phase in our cooperation with Mirova enables RP Global to further our efforts in developing and deploying renewable energy projects at a crucial time for Europe’s energy transition.
“The financing provided will help us expand our initiatives to build sustainable infrastructure across the region, advancing our shared goal of reducing carbon emissions and supporting the transition to cleaner energy, and building a successful [independent power producer (IPP)] of critical size.”
Jorge Rodríguez Garcia, CFO of RP Global, said: “This €480m transaction marks a significant milestone for RP Global as we continue to scale our renewable energy projects across Europe.
“The collaboration with Mirova not only strengthens our financial capabilities but also underscores our shared commitment to accelerating the transition to sustainable energy.”
Anne-Laure Messier, investment director at Mirova, said: “We are very pleased to strengthen our collaboration with RP Global, a long-standing partner of Mirova with whom we have built confidence and trust over nearly 10 years.
“This significant new investment will enable RP Global to realise its ambitions to reinforce its IPP model on a European scale, which align with the framework set by the Paris Agreements to achieve net-zero emissions by 2050.”
Raphaël Lance, director of energy transition funds at Mirova, said: “This new transaction signed with RP Global perfectly aligns with our fund’s strategy to enable institutional investors to engage in the transition to a decarbonised energy.”
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