Mirova acquires SunFunder to accelerate emerging market clean energy

Facebook
Twitter
LinkedIn
Reddit
Email
SunFunder had so far managed US$165 million in clean energy investments in Africa and Asia since its creation ten years ago. Image: SunFunder.

French management firm Mirova has fully acquired solar finance business SunFunder in a push to expand its investment platform in emerging markets.

Following the total acquisition, the first joint objective will be to launch a US$500 million solar energy debt financing fund to support around 70 projects in Africa, Asia and Latin America, with the possibility to close the first project by the end of the year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Both companies’ objectives align as they intend to become “global leaders” in energy transition financing, with Mirova’s office in Singapore, created in 2021, to be integrated in its emerging markets investment platform.

Moreover, the acquisition will not change SunFunder’s team and the company will be able to expand its emerging markets platform dedicated to renewables and climate investments.

Philippe Zaouati, CEO of Mirova, said: “In order to thoroughly address the challenges that come with the fight against global warming and social inequalities, having a local presence in emerging countries is critical. We are delighted that SunFunder’s teams, with their proven experience and expertise, are joining us.”

Started as a crowdfunding platform ten years ago, SunFunder has managed US$165 million in clean energy investments across 58 companies in Africa and Asia and has included off-grid solar home solutions, mini-grids and commercial and industrial (C&I) rooftop solar PV projects.

Read Next

Premium
July 25, 2025
At the SNEC expo, Carrie Xiao took the temperature of the industry as it seeks a way out of cutthroat competition and squeezed margins.
July 23, 2025
Norwegian IPP Scatec has been selected for an 846MW solar cluster in the latest REIPPPP tender from South Africa.
Premium
July 23, 2025
Analysis: Import taxes and other policy barriers are creating an affordability crisis in off-grid solar that threatens Africa's electrification goals.
July 22, 2025
Chinese module manufacturer JA Solar will supply 1GW of solar modules to UAE power company Masdar for two projects in Azerbaijan. 
July 21, 2025
Materials science firm Corning has acquired JA Solar’s 2GW module assembly plant in the US state of Arizona.
July 8, 2025
Bulgarian-headquartered solar engineering company Sunotec has acquired 100% of the project company, SIA DSE Lazas Solar, from Danish Sun Energy. 

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK