Solveo Energies Raises €98M To Boost Renewable Growth

Solveo Energies, a French independent renewable energy producer, has secured €98 million in a significant funding round led by Mirova, the responsible investment arm of Natixis Investment Managers. The capital will support the transition of Solveo from a development-focused entity to one actively commissioning renewable energy projects, with the company targeting an ambitious installed capacity of 800 megawatts (MW) by 2030. This financial boost forms part of a broader initiative that will channel €875 million in total investments to drive France closer to its carbon neutrality goals.

Founded in 2008, Solveo Energies has emerged as a key player in France’s renewable energy sector by adopting a fully integrated business model. The company oversees the entire project lifecycle—including development, financing, construction, and operation—in-house. This vertically integrated approach enables agility and accountability, aligning projects with regional needs while ensuring consistent quality across all stages of deployment. The company’s operations span solar energy, including both ground-mounted and rooftop installations, wind power, and agrivoltaics, reflecting a diverse and sustainable energy mix.

Jean-Marc Mateos, President of Solveo Energies, emphasized the strategic value of the investment, stating, “We are very proud to welcome Mirova into our entrepreneurial adventure. This transaction strengthens our model as an independent and territorially anchored player. Thanks to this long-term strategic partnership, we have the means to accelerate our development, solidify our portfolio, and remain true to our convictions: producing sustainable, local energy that respects the regions.”

The latest funding round marks a milestone for Solveo, validating its full value-chain approach and underlining investor confidence in its regional energy strategy. Mirova’s Energy Transition 6 (MET6) fund spearheaded the investment, which follows Solveo’s successful completion of early-stage renewable projects and a landmark corporate power purchase agreement (PPA) with SNCF, France’s national state-owned railway company. This agreement highlighted Solveo’s ability to deliver climate-aligned and bankable energy solutions at scale.

Alexandre Paganel, Deputy Managing Director of Finance at Solveo Energies, explained that the company’s strength lies in its holistic approach. “We made the choice from the outset to internalize all key skills to control the entire value chain. This is what allows us today to deploy our projects in an agile, responsible manner, consistent with the needs of the regions and allowing a concrete sharing of the value generated,” Paganel said.

Mirova’s commitment to Solveo underscores the fund’s confidence in the company’s potential to shape France’s renewable energy future. Raphaël Lance, Director of Energy Transition Funds at Mirova, commented, “Our partnership with Solveo Energies demonstrates our deep conviction in their potential. Their local roots, ability to lead innovative projects, and responsible approach fit perfectly with our investment strategy.”

Echoing this sentiment, Jocelyn Dioux, Investment Director at Mirova, pointed to several key factors that influenced the fund’s decision. “We were particularly convinced by the quality of the teams, the relevance of the asset portfolio, the rigor of the processes, and the clear strategic vision of the company,” he said.

The transaction was facilitated by a consortium of advisors and experts. On Solveo’s side, Natixis Partners provided M&A advisory services, with legal and technical support from Jeantet, Syneria, KPMG, and De Gaulle Fleurance. Mirova was advised by Gottengreen, White & Case, and PwC, ensuring a comprehensive and well-structured financial arrangement.

As France intensifies its efforts to meet its climate targets, the role of independent energy producers like Solveo Energies becomes increasingly critical. This infusion of capital not only fortifies Solveo’s capacity to deliver on its 800 MW target by 2030 but also strengthens its ability to lead regionally integrated energy projects that deliver long-term value to local communities. With its proven model and new financial backing, Solveo is well-positioned to accelerate France’s transition to a cleaner, more sustainable energy landscape.