Global law firm White & Case LLP has advised Mirova, a global asset management company dedicated to sustainable investing and an affiliate of Natixis Investment Managers, on its €480 million investment in RP Global to accelerate pan-European renewable energy development.
As part of the financing, which consists of equity and convertible bonds, Mirova Energy Transition 6 (MET6), Mirova's sixth fund dedicated to energy transition infrastructure, will invest an amount of €200 million, allowing another co-investment vehicle managed by Mirova to invest an amount of €280 million. Following the transaction, Mirova will become a relevant minority shareholder in RP Global.
Founded in 1984, RP Global is an independent renewable energy developer headquartered in Vienna, Austria, and Madrid, Spain, and operating mainly in seven western and central European countries: France, Germany, Italy, Spain, Portugal, Poland and Croatia. RP Global is actively developing a portfolio of over 14 GWp primarily composed of solar photovoltaic, wind and battery storage projects. Mirova's investment will enable RP Global to become an independent power producer (IPP).
The transaction closing is pending anti-trust clearances and is expected to happen in November 2024.
The White & Case team which advised on the transaction was led by partner Guillaume Vallat (Paris) and included partners Estelle Philippi, Jean-Luc Champy, Orion Berg, Jérémie Marthan, Alexandre Jaurett, Brice Engel (all Paris), Thomas Burmeister, Thyl Haßler (both Düsseldorf), Ignacio Paz, Pablo García-Nieto (both Madrid), Alessandro Seganfreddo (Milan) and Maciej Zalewski (Warsaw), local partner Ana Calvo (Madrid), counsel Andreas van den Eikel (Berlin) and Eduardo Dachary (Madrid) and associates Edouard Le Breton, Coline Berthe de Pommery, Sarah Kouchad, Thibault Faivre-Pierret, Camille Fouqué, Rahel Wendebourg, Tamila Bellache, Clément Bellaclas (all Paris), Fabian Mayer, Nicole Krellmann, Marvin Goebberd (all Berlin), Justus Redeker (Frankfurt), Selma Lyn Kalkutschke (Düsseldorf), Lorena Moreno (Madrid), Nicolò Miglio, Francesco Balestra (both Milan), Michał Perdjon and Zuzanna Tałady (both Warsaw). Law clerk Louis Roussier (Washington, DC) also assisted on the matter.
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