Energy storage developer TagEnergy has received a €450m capital injection to support delivery of its 2700MW portfolio of projects in Europe and Australia.
Mirova, a French sustainable asset manager, and affiliate of Natixis Investment Managers, and Omnes, a private equity and infrastructure investor made the investment.
The €450m capital injection will drive the initial delivery of TagEnergy’s growing portfolio of more than 2.7GW in five countries spanning the UK, Spain, Portugal, France and Australia.
Impala and TagTeam Holding, the holding company for TagEnergy’s manager-shareholders, will continue to control the company.
Impala remains the main shareholder with the largest stake under the new shareholding structure.
Mirova and Omnes each hold a strong minority share.
Raphael Lance, head of Mirova Energy Transition Funds, and Omnes partner Marc-Philippe Botte will join the TagEnergy board.
TagEnergy Chief Executive Officer Franck Woitiez welcomed the capital injection from major like-minded investors and said the business would use the funds to deliver and grow its pipeline of projects across multiple international markets.