Mirova secures US$171mn first close for Mirova Gigaton Fund
Mirova, the affiliate of Natixis Investment Managers, has announced a US$171 million first close of its Mirova Gigaton Fund. This blended finance debt fund aims to accelerate the clean energy transition in emerging countries in Africa and the Asia Pacific predominantly, as well as Latin America and the Middle East.
The fund’s target size is US$500 million and expects to deploy US$1.2 billion of private debt throughout its life primarily to small and medium-sized enterprises (SMEs) in solar home systems, agri-solar, commercial & industrial solar, telecom tower solarization, mini-grids and other promising sectors such as e-mobility, battery storage, climate-smart food systems, energy efficiency, and carbon credit pre-financing.
Long-standing partners such as U.S. International Development Finance Corporation (DFC), Swedfund, and Swedish International Development Cooperation Agency (SIDA) as well as new investors will provide the catalytic capital and guarantee that help decrease risks and consequently unlock private capital. Natixis Private Equity also invested in the fund to further mobilize private investors, combining investors’ resources to truly scale clean-energy investments, with robust social, gender, and economic impacts. The fund already constituted a pipeline of investments in over 30 countries and continues to actively seek new investable opportunities that further the efforts to build a sustainable and low-carbon future.
