Yanara Secures EUR 150 Million from Mirova to Advance 2 GW Renewable Energy Pipeline in Australia

Yanara has secured a EUR 150 million investment from global sustainable asset manager Mirova to accelerate the development of utility-scale renewable energy projects across Australia. The funding marks a major milestone for the renewable energy developer and will help expand its portfolio of large-scale solar, wind, and battery energy storage projects while supporting Australia’s transition to a low-carbon energy system.

The investment will be used to advance the development of more than 2 GW of multi-technology renewable energy infrastructure across the states of Victoria, New South Wales, and Western Australia. These projects are expected to strengthen Australia’s energy security by increasing the supply of reliable renewable electricity while supporting the country’s net-zero emissions goals.

Yanara Chief Executive Officer Jerome Ortiz described the investment as a defining moment in the company’s growth. He said Mirova is one of the world’s leading sustainable investors and that the partnership is based on a shared commitment to accelerating the energy transition through high-quality infrastructure. According to Ortiz, the collaboration will help deliver renewable energy projects that provide long-term environmental, social, and economic benefits while improving the reliability of Australia’s electricity system.

Mirova also highlighted Australia’s strong potential for renewable energy development. Raphael Lance, Global Head of Private Assets at Mirova, said the country offers one of the most attractive markets for energy transition investments because of its abundant renewable resources, the ongoing retirement of coal-fired power plants, rising electricity demand from electrification, and the growing need for reliable clean energy backed by storage. He noted that the investment reflects Mirova’s long-term commitment to supporting infrastructure that can accelerate Australia’s transition to a resilient and low-carbon energy system.

Yanara is currently developing more than 5.1 GW of hybrid and dispatchable renewable energy projects across Australia, India, and the Philippines. Its portfolio includes solar power, wind energy, and battery energy storage systems (BESS). The latest funding represents the company’s first dedicated capital raise focused on its Australian operations and will support the expansion of its local development pipeline.

A major share of the investment will be directed toward the Mortlake Energy Hub in Victoria, one of Australia’s largest planned hybrid renewable energy projects. The development will combine a 450 MW solar power plant with a 600 MW/2,400 MWh battery energy storage system to be constructed in two phases. Once operational, the project is expected to generate enough clean electricity to supply around 200,000 homes while reducing carbon emissions by an estimated 880,000 tonnes each year.

The first phase of the Mortlake Energy Hub is preparing to begin construction and is expected to create more than 300 jobs, providing economic opportunities for regional communities alongside clean energy benefits.

David Delmas, CEO of Yanara Australia, said the country’s electricity market increasingly requires renewable energy that is reliable, scalable, and available whenever demand is highest. He stated that Mirova’s investment will allow the company to accelerate its gigawatt-scale pipeline and bring more hybrid renewable energy projects to market. He added that Yanara’s experienced team and diversified portfolio position the company to meet Australia’s growing demand for firm and dispatchable clean power.

Nicolas Hayon, Managing Director of Energy Transition Funds at Mirova, said Australia has entered a crucial stage in its energy transition, requiring significant investment in renewable generation and energy storage to replace coal-fired power while meeting rising electricity demand. He said Yanara’s project pipeline, technical expertise, and experience in designing, building, and operating hybrid renewable assets make the company well positioned to contribute to Australia’s clean energy future.