Mirova acquires SunFunder to accelerate emerging market clean energy
- French administration firm Mirova has actually fully acquired solar finance company SunFunder in a push to broaden its investment platform in emerging markets.
Complying with the complete acquisition, the first joint objective will be to launch a US$ 500 million solar power debt financing fund to support around 70 projects in Africa, Asia and Latin America, with the possibility to shut the very first project by the end of the year.
Both business' objectives straighten as they mean to become "international leaders" in energy change financing, with Mirova's office in Singapore, developed in 2021, to be incorporated in its emerging markets investment platform.
In addition, the acquisition will not transform SunFunder's group and also the business will certainly be able to broaden its emerging markets platform devoted to renewables and climate investments.
Philippe Zaouati, Chief Executive Officer of Mirova, claimed: "In order to completely deal with the difficulties that included the battle against global warming as well as social inequalities, having a regional presence in emerging countries is important. We are delighted that SunFunder's groups, with their tested experience and also expertise, are joining us."
Begun as a crowdfunding platform ten years back, SunFunder has managed US$ 165 million in clean energy investments across 58 business in Africa and Asia and also has included off-grid solar home remedies, mini-grids as well as commercial and also industrial (C&I) rooftop solar PV projects.
