News & Stories

The Mirova Gigaton Investment Vehicle moves forward in accelerating clean energy transition


The Mirova Gigaton Investment Vehicle achieves its very first financial closing, gathering key investors such as NDF, thus highlighting the importance of blended finance debt funds to tackle climate change.

Mirova, the affiliate of Natixis Investment Managers dedicated to sustainable investment, supported by Mirova SunFunder East Africa Ltd as Investment Advisor, a wholly owned subsidiary based in Nairobi, announced today that the Mirova Gigaton Investment Vehicle has raised USD 171 million for its first closing. The blended finance debt strategy aims to accelerate the clean energy transition in underserved and emerging markets in developing countries, with a strong focus on Sub-Saharan Africa.

NDF is a key partner of the Mirova Gigaton Investment Vehicle, by investing USD 15 million out of the Fund’s current total of USD 171 million. The Vehicle primarily aims to deploy finances to small and medium-sized enterprises (SMEs). The funding will be invested in solar home systems, climate-smart food systems, energy efficiency and carbon credit pre-financing, while offsetting CO2 emissions, creating decent jobs, advancing gender equality, and improving energy access for all.

“At NDF, we are committed to create more pathways and opportunities for much needed blended finance solutions for climate change adaptation and mitigation in lower income countries. The Mirova Gigaton Investment Vehicle is an excellent example of the importance of bringing together the expertise and finances of the public and private sectors to increase energy access, clean energy transition and climate investments in underserved and emerging markets. We are proud to be co-investors alongside other partners and maximize the positive impacts of this initiative. This is especially crucial in Sub-Saharan Africa, where the impacts of climate change are significant,” said Henrik Franklin, Director of Portfolio Origination and Management of NDF.

Mirova published a press release and more information about the investment vehicle, which can be found here.