RP Global and Mirova have joined forces in a €480 million ($518 million) transaction to create an independent power producer (IPP).
Mirova Energy Transition 6 (MET6), Mirova's sixth fund dedicated to energy-transition infrastructure, will invest €200 million ($216 million), allowing another co-investment vehicle managed by Mirova to invest €280 million ($302 million). MET6 will become a relevant minority shareholder in RP Global, a 40-year-old independent pan-European developer specializing in wind, solar photovoltaic and storage projects. RP Global has been a long-term partner of Mirova, with a first collaboration dating back to 2015.
The total amount of €480 million ($518 million) consists of equity and convertible bonds, and the transaction covers the Italian, German, French, Spanish, Portuguese, Polish and Croatian markets.
RP Global is focused on building and commissioning more than 2,500 megawatts peak of solar, wind and storage assets throughout t