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TagEnergy begins €450m funding round

Mirova, a leading French sustainable asset manager affiliated with Natixis Investment Managers and part of the BPCE Group, has pledged an investment of €150 million in a clean energy producer.

user iconLauren Croft 26 April 2022 Big Law
Kate Axup
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Firm: Allens and Linklaters (Mirova)

Deal: Allens and Linklaters have advised Mirova on its proposed €150 million investment in TagEnergy’s €450 million funding round.

Value: €150 million ($220 million)


Area: Sustainability

Key players: Allens handled the Australian aspects of the transaction under the leadership of Kate Axup (pictured), partner and leader of Allens’ energy sector. Ms Axup was supported by Jeremy Low, partner and co-head of Allens’ foreign investment desk; Jillian Button, projects partner and head of climate change; Katherine McLellan, real estate senior associate; and Kanana Fujimori, projects associate.

The Linklaters Paris, Lisbon and London team was led by partner François April and counsel Samuel Bordeleau, with the Lisbon-based support of Diogo Barros Pereira and Beatriz Morais.

Deal significance: Mirova is joined by Impala SAS and Omnes Capital in this proposed investment. This funding is intended to be used by TagEnergy, which is based in Portugal, to drive the initial delivery of its 2.7-gigawatt portfolio of renewable energy projects in five countries – the UK, Spain, Portugal, France and Australia.

TagEnergy was founded in 2019 to develop, deliver and operate clean power stations. Mirova, with nearly €28 billion of assets under management, has approximately €2 billion invested in the energy transition infrastructure sector through five of its funds. Over the past 20 years, it has helped provide equity financing for over 5.7 gigawatts of installed capacity and has invested in over 300 wind, PV, hydro, storage, biomass and low-carbon mobility projects across Europe.

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