The Natixis Investment Managers affiliate acquired 100% of the fairness of SunFunder on 3 June and absorbed its 38-strong workforce, which will probably be retained in its entirety to construct out an rising markets platform centered on clear vitality and local weather funding.
SunFunder has been financing renewable vitality programmes in Africa and Asia for over 10 years, starting with decentralised photo voltaic in Africa, and has since deployed $165m in funding throughout 58 firms, akin to in off-grid photo voltaic methods for houses in Malawi, mini-grids in Kenya, and business and industrial roof installations in Nigeria and Thailand.
The two entities plan to launch a photo voltaic vitality debt financing fund, price as much as $500m and protecting 70 initiatives throughout Africa, Asia and Latin America. The first closing is predicted by the top of the 12 months.
Deep Dive: Investment alternatives in vitality transition
“In order to thoroughly address the challenges that come with the fight against global warming and social inequalities, having a local presence in emerging countries is critical. We are delighted that SunFunder’s teams, with their proven experience and expertise, are joining us,” mentioned Philippe Zaouati, CEO of Mirova.
“Together, we will pursue our efforts to meet the needs of the real economy and increase the impact of our investments.”
Mirova has present impression actions throughout Europe, via its vitality transition infrastructure, non-public fairness, listed equities, and social impression investing.
The agency and its subsidiaries handle €27bn in property, of which €2.2bn is invested in vitality transition infrastructure, and €500m in pure capital.
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