Mirova’s Strategic Expansion into Africa: Pioneering Renewable Energy Investments with SolarAfrica to Drive Clean Energy

France-based sustainable investment and asset management firm Mirova has announced its first investment in South Africa, partnering with SolarAfrica, a leading Independent Power Producer and renewable energy enabler. The move is part of Mirova’s strategy to enhance access to clean energy and support climate action in emerging markets.

The investment will fund the construction of SolarAfrica’s portfolio of Commercial and Industrial (C&I) renewable energy projects, which aim to boost access to sustainable energy solutions across the continent. TSW Capital Services, a financial advisory firm headquartered in Mumbai, India, served as transaction advisors for the financing.

This marks a significant step for Mirova in expanding its debt facility provisions in Africa, as part of its broader initiative to accelerate the energy transition in emerging economies.

Charl Alheit, Chief Investment Officer at SolarAfrica, highlighted the importance of the partnership: “This investment embodies both companies’ commitment to advancing the local renewable energy market and promoting long-term sustainability for businesses. It is one of several strategic funding efforts that support our vision of becoming South Africa’s leading renewable energy company.”

Rim Azirar, Deputy Head of Investments at Mirova, expressed enthusiasm for the partnership: “We are thrilled to support SolarAfrica’s ongoing development and enter the South African market. This investment aligns perfectly with our mission to increase access to reliable and affordable energy in Africa through energy transition strategies in emerging markets.”

Manish Jain, Chief Executive Officer at TSW Capital, added: “We are proud to be part of this transaction, which showcases our cross-border transaction expertise. Renewable energy and energy efficiency are critical focus areas for us, and we remain optimistic about the growing interest from international investors in these sectors across Africa and Asia.”