Girasole Energies, a new independent player in photovoltaic solar energy production, raises €96 million from Mirova

Girasole Energies’ management team comes from the solar Third-Party Investment division of Enerlis group. As of today, Girasole Energies has about forty employees and a portfolio of 100 power plants in operation, and 500 projects under development.

The goal is to exceed 500 MWp in operation by 2028.

Founded in 2023, the company is becoming an independent power producer (IPP).

Develop a fully integrated, asset-centric approach: from design to operations

Girasole Energies’ approach is based on developing production units in local areas. As an integrated energy producer, Girasole Energies designs, finances, builds and operates photovoltaic power plants on artificial land made available by customers (roofs, parking lots, abandoned land). Girasole Energies retains control of its assets over the long term.

In addition to contributing to the energy transition, Girasole Energies’ customers receive various benefits: they are paid additional income, buildings are constructed, large roofs are renovated, they are brought into compliance with regulations, or they consume the local, competitively priced green electricity they produce via a long-term purchase agreement (Power Purchase Agreement or PPA).

Boost growth with MIROVA’s assistance: shared convictions and ambitions

At the beginning of 2023, Mirova, a subsidiary of Natixis Investment Managers dedicated to sustainable investment within the BPCE group, acquired a stake in Girasole Energies through its Mirova Energy Transition 5 (MET5) fund^[sup][1][/sup]. The goal is to support and accelerate Girasole Energies’ growth. This equity investment is coupled with a line of credit for constructing photovoltaic power plants.

As a mission-driven company, Mirova seeks to leverage its innovative investment solutions to create long-term value while positively influencing environmental and social issues. Mirova has in-depth knowledge of the French and European renewable energy markets and an extensive network of partners. As such, it has structured a robust investment platform dedicated to the energy transition, with a scope encompassing energy transition in its entirety, including wind, solar, storage, hydroelectricity, hydrogen, and electric vehicles.

Mirova has become a major financial partner for Girasole Energies, that will help accelerate its growth and complete its portfolio of photovoltaic power plants by 2028.

[1] MIROVA ENERGY TRANSITION 5 is a French limited partnership (société de libre partenariat - SLP) under French law, closed to new investment. Mirova is the management company. This fund is not subject to approval by any regulatory authority.

“Producing solar photovoltaic energy is an effective tool in increasing the value of companies’ and communities’ assets. Girasole Energies is at their side to help them take advantage of this opportunity throughout France. Our mission requires significant human and financial resources. Therefore, we are very pleased to partner with Mirova, a management company recognised in the field of financing energy and environmental transition. This partnership will enable us to participate more actively and quickly in decarbonising local areas.”

Aurélie Gaudillère

President of Girasole Energies

“Girasole Energies’ position as a producer of photovoltaic electricity allows us to provide comprehensive support to many players. Some may wish to participate collectively in launching renewable energy across the country. Others may seek to increase the value of their property by adding solar. Yet others might worry about bringing their property into compliance with the growing regulatory obligations. And finally, there are those who will want to offset future increases in their energy bill. We are able to assist them all now and in the future. This mission is even more exciting due to Mirova’s equity investment in Girasole Energies. Mirova is a recognised impact investor whose commitment resonates in the hearts of all our employees.”

Pierre-Marie Berlingeri

Managing Director of Girasole Energies.

“This twelfth investment of Mirova Energy Transition 5 (MET5) funds makes it possible to continue financing the expansion of solar photovoltaic energy in local areas across France. It is part of our investment strategy to support the long-term development and growth of developers committed to speeding up the energy transition, and we will help them become independent producers of electricity from renewable sources. Girasole Energies’ positioning complements that of other French and European developers we support. We are proud to finance the construction of photovoltaic power plants that are well integrated into local areas and meet the highest standards in terms of sustainability.”

Anne-Laure Messier

Investments Director at Mirova