Mirova fund raises €857m for renewables

14/11/2019 08:55 Renewable


Mirova has announced the final close of an €857m fund to invest in clean energy projects.

The Mirova-Eurofideme 4 fund has already made its first investments and deployed more than €300m, financing nearly 600MW of projects in France, Portugal, Norway and Spain.


Investors in the fund were not disclosed other than the European Investment Bank (EIB).


The fund will mainly invest in onshore wind, solar, hydro, biomass and biogas, but will also consider electric and hydrogen mobility and storage.


Investments will be a mix of majority or minority ownership, equity funding or subordinated debt and bridge financing, Mirova said.


Mirova added that it has expanded its energy transition team to 14 to support the growth in renewables.

Source: renews.biz

Daily (09.12.2019): Brent posts a 3.1% weekly gain following OPEC decision to reduce output target

09/12/2019 12:49:00

Crude oil prices soared on Friday as OPEC+ agreed in Vienna to extend output cuts by 500,000 barrels per day in early 2020. Consequently, Brent crude rallied by $1, or 1.6%, to settle at $64.39. It recorded a weekly hike of 3.1%. U.S. WTI crude rose by 77 cents, or 1.3%, to $59.20 per barrel. For the week, WTI jumped 7.3%, after a 4% rise reached on Wednesday after data indicated sharp declines in U.S. crude inventories.


Vestas books 137MW US tour

09/12/2019 09:06:00

Vestas has received a turbine order totalling 137MW from an unnamed client for an undisclosed wind farm in the US.


Russian company to initiate feasibility study of undersea gas pipeline in 2020

09/12/2019 09:01:00

Russian company Gazprom is set to initiate the feasibility study in the first quarter of 2020 for laying down undersea pipeline starting from Persian Gulf to Pakistan, India and Bangladesh initially that will ultimately end to China after touching Myanmar and Thailand, a senior official of the Petroleum Division privy to the development told The News.