Yanara secures €150 million investment for utility scale renewable development

The investment will support the development of more than 2 GW of multi-technology renewable energy infrastructure across Victoria, New South Wales, and Western Australia, strengthening the country’s energy security while advancing its energy transition and net-zero ambitions.

Jerome Ortiz, CEO of Yanara, noted: “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.”

Raphael Lance, Global Head of Private Assets at Mirova, commented: “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 battery energy storage system (BESS) assets across the country.”

Yanara is currently developing a portfolio of hybrid and dispatchable renewable energy exceeding 5.1 GW across Australia, India, and the Philippines, spanning solar, wind, and BESS. The Mirova investment represents Yanara’s first dedicated capital raise in Australia and will support the rollout and expansion of its Australian project portfolio.

A significant portion of the investment will be directed towards Yanara’s flagship Mortlake Energy Hub in Victoria, one of Australia’s most significant hybrid renewable energy developments. The project combines 450 MW solar with 600 MW/2400 MWh BESS built across two stages, able to generate enough clean electricity to power approximately 200 000 homes while avoiding an estimated 880 000 tpy of carbon emissions. The first phase of the project is preparing to enter construction and will create more than 300 jobs, delivering meaningful economic benefits to regional communities.

David Delmas, CEO, Australia, Yanara, added: “Australia’s energy market increasingly requires renewable power that is reliable, scalable, and available when it is needed most. With Mirova’s support, we can accelerate the development of our gigawatt-scale pipeline and bring more hybrid renewable energy projects to market. Yanara has built a differentiated portfolio and assembled a highly experienced team to support Australia’s growing demand for firm and dispatchable clean power. This partnership positions us strongly for the next phase of the country’s energy transition.”

Nicolas Hayon, Managing Director, Energy Transition Funds, Mirova, concluded: “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.”

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