Sustainability-focused investment manager Mirova announced that it has reached €1.2 billion (USD$1.4 billion) in commitments at the second close of Mirova Energy Transition 6 (MET6), the sixth vintage of its flagship energy transition investment strategy.
Mirova launched MET6 in 2023, following the final close of its predecessor fund, MET5, which raised €1.6 billion. Mirova said that it is targeting €2 billion for the current fund, and will continue fundraising throughout 2025.
The MET6 strategy invests in greenfield, brownfield and corporate infrastructure across OECD countries, targeting sectors including renewable energy production such as solar photovoltaic, onshore wind, hydropower, as well as energy storage, low-carbon mobility and energy efficiency.
To date, the fund has deployed €960 million across 10 investments, including large renewable portfolios in three geographies, Independent Power Producers, and e-mobility companies.
The company said that the fund’s investment pipeline remains robust, with the team screening more than 300 opportunities over the past year representing €18 billion in equity and over 190 GW of installed capacity.
Raphael Lance, Deputy General Manager, Global Head of Private Assets, Head of Energy Transition Funds at Mirova, said:
“The successful second close of MET6 marks a pivotal moment in our journey to accelerate the energy transition. Institutional investors continue to show strong appetite for energy transition infrastructure, drawn by its potential to deliver stable, long-term returns while aligning with global decarbonization goals. The asset class stands out for its resilience, depth, and capacity to generate predictable cash flows, especially in a volatile macroeconomic environment.”
