Mirova and Qualitas Energy: Joint Venture Dedicated to Renewable Projects in Italy

Mirova and Qualitas Energy have announced the signing of an agreement to create Italian Renewable Platform, a joint venture dedicated to the ownership, development, construction and operation of renewable energy projects up to 250 MW in Italy.

Mirova, a Natixis IM affiliate dedicated to sustainable investing, will invest in equities through the Mirova Energy Transition 6 fund , which aims to support resilient infrastructure essential for the decarbonisation of energy production and consumption in OECD countries.

Qualitas Energy, a global active investment and management platform, has the dual objective of financing and developing renewable energy through the energy transition and sustainable infrastructure, developing the entire portfolio through its Qualitas Energy IV fund.

The Renewable Energy Platform created by Mirova and Qualitas Energy will play a significant role in supporting Italy’s efforts to improve its energy sovereignty

“This first direct investment by Mirova in Italy represents a significant step to support the transition of the country’s energy mix,” said Raphaël Lance, Global Head of Private Assets, Head of Energy Transition funds at Mirova. “The Italian renewables market has solid fundamentals, characterized by stable regulation, a solid national support mechanism and a dynamic market for power purchase agreements (PPAs).”

Energy transition is a key issue to ensure Europe’s economic sovereignty. Italy aims to be carbon neutral by 2050 and is capable of meeting its 2030 emissions reduction and energy efficiency targets. The Renewable Energy Platform created by Mirova and Qualitas Energy will play a significant role in supporting Italy’s efforts to improve its energy sovereignty.

The joint venture will be majority-owned by Mirova, with a strong involvement of Qualitas Energy, which will provide the platform with its development, construction supervision and monitoring services. The portfolio consists of 33 solar PV projects located in Piedmont, Friuli Venezia Giulia, Marche, Lazio, Campania, Basilicata, Sardinia and Sicily.

These projects vary in terms of stage of development, including 53 MWp of operational projects, 41 MWp of ready-to-construction projects and 54 MWp of projects in advanced development, with the ready-to-construction projects expected to be completed by December 2025. Additionally, the portfolio could be expanded to include wind projects with an expected capacity of around 100 MW.

“By partnering with an ally who shares our vision of a sustainable future, we ensure that these assets continue to create value,” added Manuel Espinosa Balaca , Partner – Investment at Qualitas Energy.

“We remain fully committed to the platform, providing our development, construction oversight and portfolio monitoring capabilities. Our long-term commitment to Italy and its energy transition is unwavering: we will continue to play an active role in advancing the country’s clean energy landscape and are actively expanding our project pipeline by pursuing new opportunities.”

Mirova was assisted by Watson Farley Williams as legal advisor, KPMG as financial and tax advisor, Kiwa Moroni as technical advisor and WTW as insurance advisor. Qualitas Energy was assisted by GreenHorse as legal advisor.

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