Global Infrastructure SherpaMirova and RP Global join forces in €480 million transaction to build a >2,500 MW(p) independent power producer
USD480M
Deal Value
2500 MW
Capacity
Mirova committed €480 million in equity to form a new independent power producer with RP Global. This €480 million transaction establishes a platform to develop over 2.5 GW.
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Counterparts (21)
Sell-Side Legal
Abreu Advogados
Abreu Advogados is a leading Portuguese full-service law firm, established in 1993, with over 200 lawyers and offices in Lisbon and Porto, and international desks covering Lusophone Africa and Brazil. The firm provides legal counsel across various sectors, including significant expertise in infrastructure, energy, and project finance transactions.
C
Chatham Partners
Schönherr
Schönherr is a leading Austrian law firm with over 300 lawyers across 15+ offices in Central and Eastern Europe (CEE) and Southeast Europe (SEE). It provides legal advisory services, including M&A, finance, and regulatory counsel, to clients involved in infrastructure, energy, and real estate transactions across the region.
DWF
DWF is a global legal business generating £414.2 million in FY23 revenue, operating across over 30 offices in Europe, North America, Middle East, and Asia-Pacific. The firm provides legal advisory services to clients in the infrastructure, energy, real estate, and financial services sectors, among others.
U
Uría Menendez
Uría Menéndez is a leading Iberian law firm with 12 offices across Europe, the Americas, and Asia, specializing in corporate, M&A, and project finance, including significant expertise in infrastructure and energy transactions.
M
Madirazza & Partners
Croatian law firm Madirazza & Partners advises on complex M&A, project finance, and regulatory matters across the energy and infrastructure sectors, primarily within Southeast Europe.
Clifford Chance
Clifford Chance advised on one verified data center acquisition in Portugal, valued at €120M. Their legal counsel focused specifically on this technology within the Portuguese market.
LPA-CGR
LPA-CGR Avocats is a Paris-headquartered business law firm with over 200 lawyers, specializing in legal advisory for infrastructure, energy, and project finance transactions across Europe, Africa, and Asia.
Buy-Side Advisor
Nomura Greentech
Nomura Greentech is a global investment bank specializing in M&A and private placement advisory for the sustainable technology and infrastructure sectors. With over 200 transactions advised globally, the firm focuses on renewable energy, energy transition, and cleantech across North America, Europe, and Asia.
KPMG Austria
KPMG Austria, a member of the Big Four global professional services network, provides audit, tax, and advisory services to a diverse client base across Austria. The firm advises on transactions, compliance, and operational efficiency, including support for infrastructure projects.
Mott MacDonald
UK-headquartered global engineering, management, and development consultancy with annual revenue exceeding £2.2 billion and over 20,000 employees. Mott MacDonald delivers projects across transport, water, energy, buildings, and environmental sectors in over 150 countries.
Sell-Side Advisor
Lazard
Lazard is a financial advisory and asset management firm. They provide advice on mergers, acquisitions, restructuring and capital markets, as well as asset management services to corporations, partnerships, institutions, governments, and individuals.
Vector Renewables
Vector Renewables is an independent technical advisor in the renewable energy sector, providing asset management, technical advisory, and financial advisory services. They focus on optimizing the performance and value of renewable energy assets throughout their lifecycle.
EY
EY provides assurance, tax, transaction and advisory services. They help clients create long-term value for all stakeholders, enabled by data and technology, and help clients transform, grow and operate.
AFRY
AFRY provides engineering, project management, and advisory services that enable the energy and industrial transition and strengthen resilience in society. With 18,000 experts worldwide, they combine a global reach with local insights and deep sector knowledge to make a lasting impact for generations to come. They focus on unlocking transitions towards a sustainable and resilient society.
V
Vanas & Partner
Vanas & Partner is a company whose specific operational details, geographic footprint, and sector focus are not publicly available.
M
Megajoule
Megajoule is an energy company focused on power generation and infrastructure development, operating across various energy sectors.
BDO
BDO is the fifth-largest global accounting and advisory network, reporting $14 billion in 2023 revenue across over 160 countries. It delivers audit, tax, and advisory services, including M&A and due diligence support for infrastructure transactions, to a diverse client base.
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Register free →Deal Analysis
The formation of a new independent power producer (IPP) platform, backed by Mirova's €480 million equity commitment to RP Global, strategically positions both entities to accelerate hybrid renewable energy development across seven European markets. This substantial equity injection from Mirova establishes a foundation to develop over 2.5 GW of capacity, targeting a diversified portfolio across Italy, Germany, France, Spain, Portugal, Poland, and Croatia. The commercial logic centers on leveraging RP Global's established development expertise in solar PV, onshore wind, and hydropower to rapidly scale a multi-gigawatt pipeline, de-risking deployment through geographic and technological diversification. This platform approach, rather than a single asset acquisition, indicates a long-term growth strategy for both parties in the European energy transition, capitalizing on varied market conditions in key regions like Germany and Spain.
Mirova, as a mission-driven asset manager specializing in sustainable finance, is deploying significant capital into energy transition infrastructure, aligning directly with its core investment mandate. RP Global, an experienced renewable energy developer and investor across Europe and Africa, gains substantial funding to accelerate its project pipeline and expand its footprint in new markets such as Poland and Croatia. The transaction involved extensive advisory teams, with Nomura Greentech and KPMG Austria advising Mirova, while Lazard, EY, and BDO provided financial counsel to RP Global. Legal advisory was equally broad, with White & Case representing Mirova, and a consortium including Abreu Advogados (Portugal), Schönherr (Austria), Uría Menéndez (Iberia), and Clifford Chance (Portugal) advising RP Global, reflecting the multi-jurisdictional nature of the 2.5 GW platform. Mott MacDonald provided technical advisory for Mirova, underscoring the technical complexity of developing hybrid assets across diverse European grids.
- Mirova committed €480 million in equity to the new IPP platform.
- The platform targets over 2.5 GW of hybrid capacity development.
- Geographic scope spans seven European countries: Italy, Germany, France, Spain, Portugal, Poland, and Croatia.
- Nomura Greentech and KPMG Austria advised Mirova on the buy-side.
- Lazard, EY, and BDO advised RP Global on the sell-side.
- White & Case provided legal counsel to Mirova, while RP Global was advised by a consortium including Abreu Advogados (Portugal), Schönherr (Austria), Uría Menéndez (Iberia), and Clifford Chance (Portugal).
Timeline
Announced
Oct 9, 2024
Signed
Closed
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