Sustainability-focused investment manager Mirova announced an investment of €150 million (USD$171 million) in renewable energy developer Yanara, aimed at accelerating the development of Yanara’s utility-scale renewable energy portfolio in Australia.

Founded in 2019, and spun off from BrightNight in 2025, Yanara develops, builds, owns and operates utility-scale hybrid renewable energy projects integrating solar, wind and battery energy storage systems (BESS) across the Asia-Pacific region.

Yanara is currently developing a portfolio of more than 5.1 GW of  hybrid and dispatchable renewable energy projects across Australia, India and the Philippines, spanning solar, wind and battery energy storage systems (BESS).

The new investment represents Yanara’s first dedicated capital raise in Australia and will support the development of more than 2 GW of multi-technology renewable energy infrastructure across Victoria, New South Wales and Western Australia, the companies noted.

David Delmas, CEO Australia at Yanara, said:

“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.”

According to the companies, a significant portion of the investment will be directed towards Yanara’s flagship Mortlake Energy Hub in Victoria, one of Australia’s largest hybrid renewable energy developments. The project will combine 450 MW of solar capacity with a 600 MW/2,400 MWh battery energy storage system to be built in two stages. Once operational, the facility is expected to generate enough clean electricity to power approximately 200,000 homes while avoiding an estimated 880,000 tons of carbon emissions annually. The first phase is preparing to enter construction and is expected to create more than 300 jobs, the companies added.

Raphael Lance, Global Head of Private Assets at Mirova, said:

“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.”