Mirova has Acquired a Renewable Energy Financier SunFunder

Source: www.gulfoilandgas.com 6/20/2022, Location: Europe

Mirova, a Natixis Investment Managers affiliate committed to impact investment, has set a goal of financing the environmental and energy transition. Mirova is expanding its investment platform in emerging markets with the acquisition of SunFunder, a private debt management company that supports renewable energy projects in Africa and Asia. This is a significant step forward in Mirova's real estate development strategy.

Founded 10 years ago as a crowdfunding platform, SunFunder's main objective was to offer financing solutions for the decentralised solar energy sector in Africa, in order to achieve direct impact at the intersection of climate change and inequality. Since then, the company has launched a series of innovative blended finance investment vehicles and closed over $165m in investments across 58 companies deploying clean energy mainly in Africa and Asia, such as off-grid solar home systems in Malawi, village mini-grid projects in Kenya, and commercial and industrial rooftop installations in Nigeria and Thailand. SunFunder has helped improve access to solar energy for more than ten million people, predominantly in East and West Africa, before extending its expertise to other emerging markets, including Southeast Asia.

The entire SunFunder team will be retained in order to keep expanding their high impact energy transition work and, together with Mirova, build a broader emerging markets platform dedicated to clean energy and climate investments. SunFunder has an experienced and diverse team of 38 people of 16 different nationalities, 55% of whom are women and 45% of whom are African, mainly based in Nairobi, Paris and London.

SunFunder’s business objectives align perfectly with Mirova's aim to become a global leader in energy transition financing and complements its impact investment solutions offering by enhancing its debt financing expertise and in-depth knowledge of emerging markets. Mirova - a pioneer in impact investing in Europe through its investment strategies in energy transition infrastructure, private equity, social impact investing and listed equities - is thus accelerating its commitments in emerging countries, where it is already present in natural capital.


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