Mirova, an affiliate of Natixis Investment Managers, has announced its acquisition of a 60MWp solar park in Menorca, Spain, with potential additional storage capacity of up to 30MW. Developed by Qualitas Energy and Q-Impact, the project, located in the municipality of Mahon, is poised to play a pivotal role in shaping a sustainable future for the Balearic Islands.
The solar PV plant, ready for construction, is slated to commence building by mid-2024, with an anticipated commissioning date in early 2026. Once operational, the plant is expected to generate approximately 92,000MWh annually, satisfying roughly 20% of the island's electricity demand.
Hélène Dimitracopoulos, Investment Director at Mirova, highlighted the significance of the acquisition in driving impactful change, stating, “These renewable energy assets are expected to drive impactful change and will contribute to shape a resilient, greener future in the Balearic Islands.”
Partnering with the fund Mirova Energy Transition 5 (MET5), Mirova underscores its commitment to financing proven technologies essential for the decarbonization of energy production, storage, and consumption in Europe.
Pablo Valencia, Managing Partner at Q-Impact, emphasized the importance of collaboration between public and private sectors in facilitating the energy transition, stating, “The development of these projects highlights the importance of the public and private collaboration in order to guarantee the required investments to foster the energy transition.”
With Qualitas Energy and Q-Impact's extensive experience and anchorage in Menorca, the projects have been developed with utmost consideration for social and environmental factors, ensuring a sustainable approach to energy transition.
Manuel Espinosa Balaca, Partner at Qualitas Energy, expressed confidence in the collaboration with Mirova, stating, “Partnering with Mirova through this acquisition marks a significant milestone for Qualitas Energy, since we entrust these assets to a partner who mirrors our vision of a more sustainable future for generations to come.”
