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    Mirova to purchase solar project in Menorca

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    Mirova, a branch of Natixis Investment Managers, plans to acquire a 60MWp solar park in Menorca, Spain, with a potential additional storage capacity of up to 30MW. The project, located in the municipality of Mahon, has been developed by Qualitas Energy and Q-Impact.

     

    Construction of the solar PV plant is scheduled to commence around mid-2024, with an expected completion date in early 2026. Once operational, it is projected to generate approximately 92,000MWh annually, meeting roughly 20% of Menorca’s yearly electricity demand.

     

    This acquisition, facilitated through the fund Mirova Energy Transition 5 (MET5), underscores Mirova’s commitment to financing established technologies crucial for advancing clean energy infrastructure and supporting Europe’s transition to decarbonized energy production, storage, and consumption.

     

    Hélène Dimitracopoulos, Mirova investment director, commented “These renewable energy assets are expected to drive impactful change and will contribute to shape a resilient, greener future in the Balearic Islands. We are thrilled by this opportunity to strengthen our presence in Spain, relying on Qualitas Energy and Q-Impact’s strong experience and anchorage in Menorca.”

     

    Pablo Valencia, Q-Impact managing partner, added “The development of these projects highlights the importance of the public and private collaboration in order to guarantee the required investments to foster the energy transition. Q-Impact and Qualitas Energy have been working in these projects since 2019, developing them with the utmost respect of social and environmental factors.”

     

    “The scale of these projects will kickstart a real energy transition in Menorca, significantly limiting the current emissions and pollution of the Mahon thermal plant.”

     

    Manuel Espinosa Balaca, Qualitas Energy partner, said “Partnering with Mirova through this acquisition marks a significant milestone for Qualitas Energy, since we entrust these assets to a partner who mirrors our vision of a more sustainable future for generations to come.

     

    “This collaboration exemplifies our shared commitment to propelling the energy transition in the Balearic Islands and throughout Spain, fostering the development of clean energy infrastructure.”

     

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