Mirova and Qualitas Energy have partnered to deliver a 250MW renewables platform in Italy.
Mirova and Qualitas Energy have signed an agreement to establish Italian Renewable Platform, a joint venture dedicated to owning, developing, building, and operating up to 250MW of renewable energy projects in the country.
The joint venture will be majority owned by Mirova, with a strong involvement of Qualitas Energy which will provide its development, construction supervision and monitoring to the platform.
The portfolio consists of 33 solar projects located across eight regions in Italy: Piemonte, Friuli, Marche, Lazio, Campania, Basilicata, Sardegna, and Sicilia.
These projects vary in maturity, including 53MW of operational projects, 41MW of ready-to-build projects, and 54MW of projects in the late development phase, with the ready-to-build projects expected to be completed by December 2025.
Additionally, the portfolio may be expanded to include wind projects with an anticipated capacity of around 100MW.
Mirova, an affiliate of Natixis Investment Managers, will invest in equity through the Mirova Energy Transition 6 fund.
Qualitas Energy has developed the entire portfolio through its fund Qualitas Energy IV.
Raphael Lance, Global Head of Private Assets, Head of Energy Transition funds, Mirova, said: “We are excited to partner with Qualitas Energy, a trusted collaborator with whom we have successfully invested in projects in Spain.
“This first direct investment of Mirova in Italy represents a significant step to support the transition of the country’s energy mix.
“The Italian renewable market showcases strong fundamentals, characterized by stable regulations, a robust national support mechanism, and a dynamic power purchase agreement (PPA) market.”
Manuel Espinosa Balaca, Partner, Investment, at Qualitas Energy, added: “By partnering with an ally who shares our vision for a sustainable future, we ensure these assets continue to create value.
“We remain fully dedicated to the platform, providing our capabilities in development, construction supervision, and portfolio monitoring.
“Our long-term commitment to Italy and its energy transition is steadfast: we will continue to play an active role in advancing the country’s clean energy landscape, and we are actively expanding our project pipeline by pursuing new opportunities.”