TagEnergy announces Mirova and Omnes as two new major investors
Global clean energy enterprise TagEnergy is poised to further accelerate the energy transition following significant investments in the business by Mirova, a French leading sustainable asset manager, affiliate of Natixis Investment Managers, and Omnes, a leading private equity and infrastructure investor.
TagEnergy majority shareholder Impala SAS Group, owned by Jacques Veyrat, Omnes, in particular with its Capenergie 4 fund and Mirova, through its new Energy Transition fund aim at investing €150 million (£125 million) each in the fundraising.
A €450 million capital injection
The €450 million (£375 million) capital injection will drive the initial delivery of TagEnergy’s growing portfolio of more than 2.7GW in five countries – the UK, Spain, Portugal, France and Australia.
Impala and TagTeam Holding, the holding company for TagEnergy’s manager-shareholders, will continue to control the company. Impala remains the main shareholder with the largest stake under the new shareholding structure. Mirova and Omnes each hold a strong minority share.
Raphael Lance, Head of Mirova Energy Transition Funds, and Omnes Partner Marc-Philippe Botte will join the TagEnergy board.
TagEnergy Chief Executive Officer Franck Woitiez welcomed the capital injection from major like-minded investors and said the business would use the funds to deliver and grow its pipeline of projects across multiple international markets.
“Mirova and Omnes are seasoned investors in the renewable space who will support the TagEnergy management team as they continue to develop the business,” Franck Woitiez said.
“Both investors bring longstanding experience in partnerships with industrial players and both are aligned with TagEnergy’s long-term vision, and share strong financial capabilities and environmental, social and governance (ESG) approach,” he said.
“This significant investment will underpin our rapid growth as we scale our operations to speed the transition to more sustainable, competitive and clean power sources.”
TagEnergy Chairman, Impala Chairman and Founder Jacques Veyrat said Impala’s investment as anchor shareholder in TagEnergy, with its market-driven culture and outstanding team, was a timely decision.
“We share TagEnergy’s core values and principles of boldness, responsibility and flexibility. This capital raising is also a timely decision to support TagEnergy’s growth at a critical time of transition in the renewable energy industry. I look forward to the next stages of our development with confidence in the business and our new investor partners,” Jacques Veyrat said.
TagEnergy was founded in 2019 by Jacques Veyrat and Franck Woitiez and his team to develop, deliver and operate clean power stations. Prior to the fundraising, Impala held 51 percent of the TagEnergy business and TagTeam 49 percent.