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The transaction, consisting of equity and convertible bonds, will cover Italy, Germany, France, Spain, Portugal, Poland and Croatia. RP Global aims to commission 2.5 GWp of renewable power in the next five years.
From pv magazine France
Paris-based asset management company Mirova has announced a total investment of €480 million ($519 million) in Austrian renewable energy developer RP Global.
Founded in 1984, the Vienna and Madrid-based RP Global has a development portfolio of more than 14 GWp, mainly photovoltaic, wind and storage. The transaction covers seven markets, Italy, Germany, France, Spain, Portugal, Poland and Croatia.
The two players have been collaborating since 2015, particularly in project management. This financing therefore marks a further step in their collaboration. The transaction is being carried out via the Mirova Energy Transition 6 (MET6) fund, Mirova’s sixth fund dedicated to energy transition infrastructure, which will invest €200 million, allowing another co-investment vehicle managed by Mirova to invest €280 million. MET6 thus becomes a strategic minority shareholder in RP Global, which allows it to acquire IPP status.
“Mirova’s entry will help us move up a gear in terms of building sustainable infrastructure across the region and build a critical-size IPP,” said Gerhard Matzinger, CEO of RP Global, which aims to commission solar, wind and storage assets totaling more than 2,500 MWp of installed capacity in the next five years.
The company is also working on several hybrid assets. In France, RP Global began operations in 2008 and currently employs a team of 37 people based in Lille, Bordeaux and Avignon. It has so far developed and built more than 200 MW of generation assets, mostly wind, and has a 1.3 GW solar and wind pipeline at various stages of development.
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