The fund aims to support the EU’s climate neutrality objective for 2050, and has invested in key transition sectors including onshore wind, hydropower, energy storage, low-carbon mobility, and energy efficiency.
French sustainable investor Mirova has reached a second close of €1.2bn for its flagship Mirova Energy Transition 6 (MET6) fund, which backs renewable and clean infrastructure projects across Europe and North America.
Currently, the portfolio includes large-scale renewable energy platforms in three regions, growth capital for independent power producers (IPPs) and investments in electric mobility infrastructure.
The fund, which is targeting a final close of €2bn, gained support from both new and existing investors, Mirova said. It had previously raised more than €960m across 10 investments, representing around half its target fund size.
Investment focus
The fund’s investment strategy focuses on greenfield, brownfield, and corporate infrastructure assets across key transition sectors including solar PV, onshore wind, hydropower, energy storage, low-carbon mobility, and energy efficiency. It’s geographic and sectoral diversification is designed to capture growth opportunities and manage risk across mature and emerging markets within the Organisation for Economic Co-operation and Development (OECD), according to Mirova.
The firm said that over the past year, the MET6 team screened more than 300 opportunities representing €18bn in equity, with over 190GW of energy capacity, with several projects in advanced stages expected to close before the end of the year.
Mirova and its affiliates had €33bn in assets under management – of which €4.5bn is for energy transition infrastructure investments – as of September 30, 2025. The firm said it will continue fundraising for MET6 throughout 2025.
Raphael Lance, deputy general manager and global head of private assets at Mirova, said the second close reflects a growing demand for energy transition infrastructure among institutional investors.
“Institutional investors continue to show strong appetite for the asset class, drawn by its potential to deliver stable, long-term returns while aligning with global decarbonisation goals. The sector stands out for its resilience and its capacity to generate predictable cash flows, especially in a volatile macroeconomic environment,” said Lance.
MET6 follows five previous Mirova energy transition funds which backed renewable and clean infrastructure projects across Europe and North America.
