Mirova Backs Namdev with $10M Investment in Clean Energy

Deal News | Nov 27, 2024 | Mirova SA

Mirova Backs Namdev with $10M Investment in Clean Energy

Mirova SA, an investment management firm focusing on sustainability, has announced its first investment initiative in India by providing a senior debt financing of $10 million to Namdev Finvest Private Limited. This financial commitment is channelled through Mirova's blended finance debt fund, which aims to promote energy transition in emerging countries. Namdev, an Indian non-banking financial company, is recognised for its role in providing secured loans to SMEs in rural and semi-urban locales, with a particular focus on sectors such as responsible mobility and energy. This investment marks the first Asian project for the Mirova Gigaton Fund, representing a strategic entrée into the Asian energy transition market. Namdev's operations empower micro-entrepreneurs and strive for sustainable development practices, particularly benefiting underprivileged communities.

Sectors

  • Sustainable Investment
  • Financial Services
  • Clean Energy

Geography

  • India – Mirova's investment specifically targets Namdev Finvest Private Limited, an Indian company that supports clean energy and mobility in the country.
  • Asia – This investment marks the first project funded by Mirova's Gigaton Fund in the wider Asian region.

Industry

  • Sustainable Investment – Relevant because Mirova SA is providing funding aimed at promoting sustainable practices in energy transition.
  • Financial Services – Relevant due to Namdev's role as a non-banking financial company focusing on secured lending in India.
  • Clean Energy – Pertinent as the investment by Mirova is specifically directed towards facilitating clean energy and mobility efforts in emerging markets.

Financials

  • $10,000,000 – The amount of senior debt financing provided by Mirova SA to Namdev Finvest Private Limited to support energy transition initiatives.

Participants

NameRoleTypeDescription
Mirova SABidding Company/InvestorCompanyAn investment management firm specialising in sustainable investments, facilitating a $10M senior debt financing through its Gigaton Fund.
Namdev Finvest Private LimitedTarget CompanyCompanyAn Indian non-banking financial company that provides secured lending to SMEs focused on responsible mobility and energy in rural and semi-urban areas.