Mirova was awarded the Investor of the Year award in Africa, as judges were impressed with its significant contribution to meaningful solarization on the continent.  

The French investor has invested across 21 countries in Africa, improving the access of green energy in developing countries.  

Over the judging period, Mirova infrastructure team dedicated to emerging countries has further deployed its Mirova Gigaton Fund (MGF) with 2 new investments in commercial and industrial companies. The portfolio now counts 5 projects operating across South Africa, Kenya, Ethiopia, Ghana, Sierra Leone, Gabon and Nigeria. 

One judge said: “There is a clear commitment to the region, which is underserved by global infrastructure investors, and showing support for companies like Solar Panda that appear to be providing meaningful local impact.” 

Another member of the judging panel said: “Support of renewable energy development in Africa rare amongst global infra players. Solar Panda funding of solar power homesytems in rural Africa communities is innovative and could be a major gamechanger for people in the region.” 

While another said: “Mirova has made a significant contribution to meaningful solarization in Africa, including importantly in relation to telecoms towers.” 

MGF backed Solar Africa, a South African C&I EPC developer providing integrated solutions to reduce electricity costs and improve energy security and its customers’ carbon footprint.  

Solar Africa develops solar PV systems providing access to clean and stable energy in a country where the energy mix is largely dominated by coal energy and electricity supply often suffers shortfalls due to increased demand and ageing power plants. 
The company has installed over 44MW in South Africa and 1MW in Namibia.  

The investor has also backed Solar Panda, which designs and sells affordable and reliable Solar Home System kits and appliances using the Pay-As- You-Go model. Mirova have a total outstanding exposure of $7.5 million in debt to Solar Panda through their third and fourth emerging markets energy transition fund respectively.