Mirova to aquire 25 MW solar power project in Portugal

Natixis Financial group-owned French asset management company Natixis Global Asset Management has announced that one of its units, Mirova, which specialises in clean energy investments, plans to acquire a 25 MW solar power project in Portugal from local developer Hyperion Renewables. The “ready-to-build” project has already been granted a financing agreement by Portugal’s Banco BPI, and has secured a long-term power purchase agreement (PPA) with local power distributor Axpo Ibéria, a unit of Switzerland-based Axpo Group. The plant will be set up by a Portugal-based engineering, procurement and construction contractor, Jayme da Costa, and is scheduled to become operational by early 2019. Hyperion Renewables will hold an unspecified minority stake in the project.

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