Mirova to launch Mirova Energy Transition 5 Fund1 (MET5)

Mirova has begun the fundraising of its 5th fund dedicated to financing energy transition infrastructure. The fund, which is still in its project phase, will be named Mirova Energy Transition 5 Fund (MET5). It follows the Mirova Eurofideme 4 fund, which was invested over the past two years, by continuing to focus on renewable energy and low-carbon mobility sectors. Like Mirova’s previous funds, MET5 will offer flexibility - majority or minority stake, equity or subordinated debt financing, with the possibility of short-term bridge financing.

Once created, this new fund will continue to invest in tried and tested technologies (onshore wind farms, solar power, hydroelectricity, biogas) but will also be able to diversify in order to integrate evolving robust technologies, such as offshore wind farms. The team will also pursue the work commenced by Fund 4 in prospecting and investing in the low-carbon mobility sector, notably to support the growth of the electric vehicle sector and the emergence of hydrogen.

The fund will seek innovative projects, which it will support from the development stage across all of these sectors.

MET5 will be able to invest outside of Europe. This geographical diversification will involve up to 10% of the fund’s assets and will target projects located in OECD member countries.