France-based Natixis Investment Managers’ sustainable finance affiliate Mirova has successfully achieved the second close in August of its flagship energy transition fund, Mirova Energy Transition 6 ( MET6 ), reaching €1.2 billion ( US$1.6 billion ) in commitments with strong support from both returning investors and new partners.

The fund’s portfolio is reflective of its strategy, with one third invested in large renewable portfolios in three geographies, half of the commitments dedicated to the growth of three independent power producers with extensive track record and the rest in the e-mobility space.

Over the past year, the fund’s team, Mirova notes, has screened more than 300 opportunities, representing €18 billion in equity and over 190 gigawatts ( GW ) of installed capacity. The pipeline remains robust, with several projects in advanced discussions expected to close by year-end. These opportunities reflect the fund’s strategic focus on sector and geographic diversification.

The fund invests in greenfield, brownfield and corporate infrastructure across OECD countries. Target sectors include renewable energy production ( solar photovoltaic, onshore wind, hydropower ), energy storage, low-carbon mobility and energy efficiency.

With a target fund size of €2 billion, Mirova, it points out, will continue its fundraising efforts throughout 2025.

“Institutional investors continue to show strong appetite for energy transition infrastructure, drawn by its potential to deliver stable, long-term returns while aligning with global decarbonization goals,” adds Raphael Lance, the company’s deputy general manager, global head of private assets and head of energy transition funds. “The asset class stands out for its resilience, depth and capacity to generate predictable cash flows, especially in a volatile macroeconomic environment.”