• Mirova will invest €150 million to support more than 2 GW of renewable energy and storage projects across three Australian states.
• Yanara’s flagship Mortlake Energy Hub will combine 450 MW of solar with a 600 MW, four-hour battery system.
• The investment targets Australia’s need for dispatchable clean power as coal generation retires and electricity demand rises.

Renewable energy developer Yanara has secured a €150 million ($172 million) investment from sustainable asset manager Mirova to expand its Australian utility-scale project portfolio.

The capital will support more than 2 GW of renewable generation and energy storage infrastructure across Victoria, New South Wales and Western Australia. Projects will include solar, wind and battery energy storage systems designed to provide more reliable and dispatchable clean electricity.

The transaction is Yanara’s first dedicated capital raise for its Australian operations. It gives the developer long-term financial backing as Australia accelerates renewable deployment and prepares for the retirement of coal-fired power stations.

Capital Targets Dispatchable Renewable Power

Yanara is developing more than 5.1 GW of hybrid and dispatchable renewable energy capacity across Australia, India and the Philippines.

The portfolio spans solar, wind and battery energy storage systems, known as BESS. These hybrid projects can store electricity during periods of strong renewable generation and release it when demand rises.

“This investment marks yet another defining milestone in Yanara’s growth journey. Mirova is one of the world’s most respected sustainable investors, and we are proud to welcome them as our partner in Australia. We share a common vision of accelerating the energy transition through high-quality infrastructure that delivers long-term environmental, social and economic value. Together, we will help build the next generation of reliable and dispatchable renewable energy solutions for Australia.” JEROME ORTIZ, CEO of Yanara

Mirova is an affiliate of Natixis Investment Managers focused on sustainable investment. Its backing adds institutional capital to a market where grid stability has become central to renewable energy policy.

“Australia is one of the most compelling markets globally for the energy transition, supported by strong renewable resources, decommissioning of the coal fire power plant, growing electrification needs and an increasing demand for firm, dispatchable clean power. Our investment in Yanara reflects Mirova’s long-term commitment to supporting the development of critical energy infrastructure that can accelerate Australia’s transition to a more resilient and low-carbon energy system. We are delighted to partner with an experienced management team and look forward to contributing to the delivery of a high-quality portfolio of flexible renewable energy coupled with BESS assets across the country.” RAPHAEL LANCE, Global Head of Private Assets at Mirova

RELATED ARTICLE: Mirova Launches €2 Billion Energy Transition Infrastructure Fund

Mortlake Hub Anchors Australian Expansion

A significant share of the investment will support the Mortlake Energy Hub in Victoria. Yanara describes it as one of Australia’s largest hybrid renewable energy developments.

The project will combine 450 MW of solar generation with a 600 MW battery capable of storing 2,400 MWh. Development will take place across two stages.

Once operational, Mortlake could generate enough electricity to power about 200,000 homes. Yanara estimates that the project could avoid 880,000 tonnes of carbon emissions each year.

The first phase is preparing to enter construction. It is expected to create more than 300 jobs, bringing employment and investment into regional Victorian communities.

Investors Focus on Grid Reliability

Australia’s renewable buildout is increasingly moving beyond generation capacity alone. Storage, transmission access and flexible power supply are becoming critical investment criteria.

“Australia’s energy transition is entering a pivotal phase, requiring significant investment in renewable generation and storage to support the phase-out of coal-fired power and meet rising electricity demand. We believe Yanara is ideally positioned to contribute to this transition through its high-quality seed portfolio and differentiated development capabilities. We are particularly impressed by their track record of designing, building, and operating hybrid assets globally, delivering reliable green power to diverse customer segments. We look forward to further developing this partnership in Australia alongside their experienced management team.” NICOLAS HAYON, Managing Director, Energy Transition Funds, Mirova

For investors, the deal reflects growing demand for infrastructure that can manage renewable intermittency and support grid resilience. For policymakers, it adds private capital to national efforts to replace ageing coal assets.

The partnership also shows how sustainable investment managers are targeting platforms rather than single projects. That approach can accelerate development pipelines, distribute project risk and create opportunities for further institutional investment.

Yanara’s expansion will now depend on project approvals, grid connections, construction execution and long-term revenue arrangements. Its progress will offer another test of whether Australia can convert strong renewable resources into reliable, investable and lower-carbon electricity at scale.