mirova

JUWI, a wholly-owned subsidiary of MVV Energie AG, has completed the sale of a 156MW solar PV portfolio in Greece to Mirova, an affiliate of Natixis Investment Managers specialising in sustainable investing.

Through the joint venture, Italian Renewable Platform, the partnership aims to own, develop, build and operate up to 250MW of renewable energy projects in Italy, including a portfolio of solar PV projects.

The companies dubbed it the ‘largest’ solar park in the Baltics and double the capacity of the previous largest operational solar PV plant in Estonia.

The long-term debt financing will enable ManoCap to consolidate its business in Ghana and Sierra Leone and expand into neighbouring markets.

The portfolio consists of three solar projects – with 160MW, 67MW and 40MW of capacity each – located in Central Greece.

French independent power producer Girasole Energies has raised €96 million (US$103 million) to support and accelerate its growth in France.

Estonian independent power producer Sunly has raised €200 million to build and expand its renewables portfolio in the Baltics and Poland.

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

Free-market success will require accepting merchant risks and even ‘reverse subsidy’ logic of paying for grid access, say developers, investors and utilities gathered at Munich event.