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French asset management firm Mirova has announced a €480 million ($518 million) investment in RP Global, an independent power producer (IPP), to support its 2.5GW pipeline of renewable energy projects across Europe.
The Mirova Energy Transition 6 (MET6) fund, a French limited partnership managed by Mirova, will contribute €200 million, with an additional €280 million provided by a co-investment vehicle also managed by Mirova.
This partnership allows MET6 to acquire a significant minority stake in RP Global.
Mirova’s investment director, Anne-Laure Messier, commented: “We are delighted to deepen our collaboration with RP Global, a long-standing partner with whom we’ve built confidence and trust over nearly a decade.
“This substantial new investment will enable RP Global to advance its IPP model on a European scale, in alignment with the Paris Agreement’s framework to reach net-zero emissions by 2050.”
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Photo taken on May 19, 2021 shows Karachi Nuclear Power Plant Unit-2 K-2 in southern Pakistani port city of Karachi. Speaking virtually at the inauguration ceremony of the Karachi Nuclear Power Plant Unit-2 K-2, Pakistani Prime Minister Imran Khan said that Friday marks the 70th anniversary of the establishment of diplomatic relations between the two countries, and apart from the ever-strengthening bilateral ties, the people-to-people contacts have also become deep-rooted with the passage of time. (Photo by Str/Xinhua via Getty Images)