Mirova Gigaton Fund reaches $282m
Mirova Gigaton Fund reaches $282m
The Mirova Gigaton Fund has reached over half its $500 million target size.
Africa Private Equity News’ Connect messaging service is now free. Directly message other private equity professionals in our community.
Download the free Africa Private Equity News app: Android | iOS (or search for it in the app store)
Tap on the top-right icon to log in or register a free account
Tap on bottom-right Connect icon to start chatting
The Mirova Gigaton Fund has announced that it has reached over half its $500 million target size, with $282 million closed to date.
The fund is managed by Mirova and supported by Mirova SunFunder East Africa Ltd as investment advisor.
The European Investment Bank (EIB) signed a $75 million senior commitment and a €5 million catalyst junior investment under the Luxembourg-EIB Climate Finance Platform for the Mirova Gigaton Fund.
The fund will seek to accelerate energy transition across Africa, Latin America, the Middle East and Asia by providing private debt financing to businesses active in solar power for homes, agriculture, telecommunications and industry, mini-grids and green energy sectors, including electric vehicles mobility, storage, climate-smart food systems, energy efficiency.
Projects funded by the blended finance debt fund will help to increase access to reliable and affordable energy and ensure viable alternatives to fossil fuel-based activities.
* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.