Mirova clean energy fund raises $171m

March 15, 2023

Mirova, an affiliate of Natixis Investment Managers, has confirmed that the Mirova Gigaton Fund – which will invest in the clean energy sector, including battery storage –  has raised $171 million at its first closing. 

US International Development Finance Corporation (DFC), Swedfund and Sida are among the capital providers.

The blended finance debt fund will aim to accelerate the clean energy transition in emerging countries in Africa and Asia Pacific predominantly, as well as Latin America and the Middle East. 

The fund’s target size is $500 million and it expects to deploy $1.2 billion of private debt throughout its life primarily to small and medium-sized enterprises in solar home systems, agri-solar, commercial & industrial solar, telecom tower solarisation, mini-grids and other sectors such as e-mobility, battery storage, climate-smart food systems, energy efficiency and carbon credit pre-financing.