Hyperion Renewables closed a total investment of €140m from Mirova to accelerate its transition to an independent power producer.
The capital injection will drive the initial deployment of 3.4GW of Hyperion’s current pipeline, consisting of photovoltaic (PV), wind, storage, and green hydrogen projects, mainly in Portugal, for a holistic and diversified strategy to speed energy transition.
Hyperion Renewables is a Portuguese renewable energy developer with activities in Iberia and a growing presence in Europe.
Mirova is a French affiliate of Natixis Investment Managers dedicated to sustainable investing, to boost its growth.
Hyperion was founded in 2006 and has, since then, registered a development track record of more than 50 large scale solar projects totalling over 640MW that have reached ready-to-build (RtB) stage, with over 370MW connected to the grid, of which 270MW in Portugal.
This represents close to 20% of all utility-scale solar capacity installed in Portugal by year-end 2022.
Mirova’s investment, through Mirova Energy Transition 5 (MET5), will support Hyperion’s strategic decision to continue its organic growth and transition from being a developer to an IPP based in Iberia.
Hyperion and Mirova have been collaborating since 2018, when Mirova acquired a 90% stake of PV Vale de Moura, a 28MW solar project located in Évora, Portugal, developed by Hyperion that retained 10% equity.