Sustainability-focused investment manager Mirova has announced it has secured €1.2 billion in commitments at the second close of its Mirova Energy Transition 6 (MET6) fund, the sixth iteration of its flagship energy transition investment strategy. Launched in 2023, following the conclusion of its predecessor fund MET5, which raised €1.6 billion, Mirova is targeting a total of €2 billion for MET6 and intends to continue fundraising until 2025.
The MET6 strategy focuses on investments in greenfield, brownfield, and corporate infrastructure across OECD countries, targeting sectors such as renewable energy production—including solar photovoltaic, onshore wind, and hydropower—as well as energy storage, low-carbon mobility, and energy efficiency. To date, the fund has allocated €960 million across ten investments, including large renewable portfolios in three regions, Independent Power Producers, and e-mobility companies.
Mirova reports that the fund’s investment pipeline remains strong, with the team having evaluated over 300 opportunities in the past year, representing €18 billion in equity and more than 190 GW of installed capacity.
Raphael Lance, Deputy General Manager, Global Head of Private Assets, and Head of Energy Transition Funds at Mirova, commented: “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 decarbonisation goals. The asset class stands out for its resilience, depth, and capacity to generate predictable cash flows, especially in a volatile macroeconomic environment.”
