Yanara secures €150m from Mirova for over 2GW Australian renewable portfolio

Renewable energy developer Yanara has secured a €150 million ($171.4 million) investment from Mirova, an affiliate of Natixis Investment Managers, to support its utility-scale renewable energy portfolio in Australia.

The funding is intended to expand more than 2 GW of renewable energy infrastructure across Victoria, New South Wales (NSW), and Western Australia (WA).

Mortlake Energy Hub

A significant share of the funds will be allocated to Yanara's Mortlake Energy Hub in Victoria. This project features a hybrid approach, combining:

• 450 MW of solar capacity
• A 600 MW / 2,400 MWh battery energy storage system (BESS), developed across two construction stages

The facility will generate enough electricity to supply approximately 200,000 homes and is expected to avoid 880,000 tonnes per annum (tpa) of carbon emissions.

Yanara is preparing to begin construction of the first phase, which is anticipated to create more than 300 jobs and deliver projected economic benefits for regional communities.

Executive Commentary

Jerome Ortiz, CEO of Yanara, said:

"This investment marks yet another defining milestone in Yanara's growth journey. Mirova is one of the world's most respected sustainable investors, and we are proud to welcome them as our partner in Australia. We share a common vision of accelerating the energy transition through high-quality infrastructure that delivers long-term environmental, social and economic value. Together, we will help build the next generation of reliable and dispatchable renewable energy solutions for Australia."

Raphael Lance, Global Head of Private Assets at Mirova, said:

"Australia is one of the most compelling markets globally for the energy transition, supported by strong renewable resources, decommissioning of the coal-fired power plant, growing electrification needs and an increasing demand for firm, dispatchable clean power. Our investment in Yanara reflects Mirova's long-term commitment to supporting the development of critical energy infrastructure that can accelerate Australia's transition to a more resilient and low-carbon energy system."

Yanara's Broader Portfolio

Yanara is developing more than 5.1 GW of hybrid and dispatchable renewable energy projects, spanning solar, wind, and battery energy storage, across Australia, India, and the Philippines.

The funding from Mirova marks the company's first capital raise in Australia and will be used to support the growth and implementation of its Australian project pipeline.

Advisors and Legal Counsel

• EY acted as financial adviser to Yanara
• Lazard Australia advised Mirova
• Legal counsel: Ashurst, White & Case, Van Doorne, and Loyens & Loeff
• Tax advice: Alvarez and Marsal
• Technical adviser for Mirova: Infravue

This article was originally created and published by Power Technology, a GlobalData owned brand.