2023-05-30 15:17:00
(Ecofin Agency) – Two months after its first closing at $171 million, the Mirova Gigaton fund is asking the European Investment Bank to raise additional financial resources to strengthen its portfolio of companies involved in the production of renewable energy in Africa.
The European Investment Bank (EIB) is considering a $6 million investment project in the Mirova Gigaton fund focused on financing small and medium-sized enterprises (SMEs) active in the production and supply sustainable energy in emerging markets, particularly in sub-Saharan Africa.
The project for granting this financing was unveiled by the EIB on Friday 26 May. The European financial institution will submit it to its board of directors, which will decide whether or not to approve it in the coming months.
« The Mirova Gigaton fund aims to provide debt support to SMEs that produce and supply sustainable energy and have a positive impact on climate, sustainability. The Fund will focus on sub-Saharan Africa and Southeast Asia », explains the EIB.
This financing initiative announced by the EIB comes two months after the first closing at $171 million of the Mirova Gigaton fund. The operation was announced in mid-March. During this period, Mirova indicated that it had built up a portfolio of SMEs active in solar energy systems, mini-grids and even smart power systems in around thirty countries.
Note that the Mirova Gigaton fund aims to raise $500 million during its final closing.
Chamberlain Moko
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15/03/2023 – The Mirova Gigaton fund raises $171 million to finance solar energy projects in Africa
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