Mirova has announced a €480 million investment in independent power producer RP Global to support its plans for a 2500MW pipeline of clean energy projects across Europe. The investment, through the Mirova Energy Transition 6 fund (€200 million) and an additional co-investment vehicle managed by Mirova (€280 million), will position Mirova as a key minority shareholder in RP Global.
RP Global, a 40-year-old developer specializing in wind, solar photovoltaic, and energy storage, operates in several European countries, including France, Germany, Spain, and Poland. It is developing a 14GW portfolio of clean energy projects, focusing on solar, wind, and storage assets, with plans to commission more than 2500MW, including hybridized projects.
The transaction, which builds on a long-standing partnership between Mirova and RP Global that began in 2015, is set to close pending anti-trust approvals in November.
RP Global CEO Gerhard Matzinger highlighted the importance of this investment, stating, “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.”
Mirova's investment director, Anne-Laure Messier, emphasized the strength of the collaboration, saying, “This significant new investment will enable RP Global to realize 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.”
