Mirova acquires equity investment in Corfu Solaire

Mirova has made an equity investment in Terre et Lac subsidiary Corfu Solaire that seeks to invest in a 129 MW solar portfolio located in France. 

The EUR18 million (US$21 million) investment of Mirova will finance the development of 12 projects that consist of the portfolio. The newly set up company Corsaire will develop and construct these solar projects. 

Mirova will own 40% stakes in Corsaire while Corfu Solaire owns the remaining 60% interest. The construction of the projects is expected to commence in 2021 with expected completion by 2023.