BKW expands presence France with wind portfolio purchase ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.
New Mirova co-investment vehicle participates in major renewable infrastructure project alongside Engie and Credit Agricole Assurances
Submitted
25/01/2021 - 10:09am
Mirova, an affiliate of Natixis Investment Managers, has created a new co-investment vehicle, which has attracted existing investors in its current Energy Transition fund, Mirova Eurofideme 4 (MEF4), as well as new clients.
The vehicle was created specifically to participate, alongside Engie and Credit Agricole Assurances, in the acquisition of the second largest hydroelectric portfolio in Portugal from EDP. The deal, valued at EUR2.2 billion, completed in late December.
Investors in the new co-investment vehicle include Banca March, Merseyside Pension Fund, Natixis Assurances, Groupama, EB Erneuerbare Energien Fonds Europa and LHI Group. MEF4, together with the MEF4 co-investment vehicle, own 25 per cent of the total consortium. Engie owns 40 per cent, while Crédit Agricole Assurances own 35 per cent.
By Rachel Fixsen2021-01-20T09:35:00+00:00
Merseyside Pension Fund (MPF) in the UK is among several institutional investors revealed to have invested in a new co-investment vehicle created by Mirova to own a share of a large Portuguese hydroelectric portfolio.
Portuguese electric utility firm EDP announced in December that it sold the portfolio, located in the Douro valley with 1.7 GW capacity, to a consortium of Credit Agricole Assurances, French operator Engie and Mirova, in a €2.2bn deal.
After a debt tranche and price reduction contingencies, the equity portion of the investment is €1.68bn, according to Mirova.
The three buyers now hold stakes of 35%, 40% and 25% respectively in the portfolio, said EDP, noting that the transaction had been finalised exactly a year after the original agreement between the companies.
By IPE staff2020-12-16T17:27:00+00:00
Renewables developer TTR Energy has joined forces with five institutional investors and fund managers to create Hexagon Renewable Energy, a company that will own 19 wind projects across France.
Crédit Mutuel Capital Privé, Banque des Territoires, Amundi Energy Transition, Generali Global Infrastructure and Mirova, an affiliate of Natixis Investment Managers, are all investing in the platform.
The windfarm portfolio includes operational assets with a capacity of 112MW and a range of projects that would eventually take total power capacity to more than 770MW.
The investor group was formed by TTR Energy though a competitive process and is led by Crédit Mutuel Capital Privé as lead investor through its infrastructure fund, Siloé Infrastructures.