NN Group and Rivage Investment launch EUR 300 million sustainable infrastructure debt fund
Today, NN Group and Rivage Investment (“Rivage”) announce the launch of Rivage Private Debt – Fund for Infrastructure Climate Solutions, an innovative fund that seeks to finance infrastructure assets which provide solutions to the considerable challenges raised by climate change. The fund focusses on European projects in the sectors of wind, solar, hydro, public transport, EV charging, batteries and energy management solutions. By contributing to green infrastructure financing necessary to reach global climate goals, the fund aims to catalyse the transition to a resilient low-carbon economy.
Accelerating the transition to a low carbon economy, is at the heart of both NN Group and Rivage’s strategic vision. By setting ambitious sustainability targets, the Infrastructure Climate Solutions Fund is designed to combine different types of debt financings for sustainable infrastructure assets in Europe. The infrastructure sector remains a key component in combatting climate change by enabling drastic carbon emissions reductions, transition to a renewable energy mix, access to clean transportation and improving energy efficiency.
Classified as “Article 9” under the new EU Sustainable Finance Disclosure Regulation (the highest sustainable classification in Europe), the fund will combine a clear roadmap (an ambitious maximum on the tons of CO2 emissions per million Euro invested) that is aligned with the requirements of the Paris Agreement and with European environmental regulations (EU Taxonomy).
NN Group is committing EUR 300 million to the fund and Rivage will invest in the fund alongside NN. The fund is managed by Rivage Investment and will benefit from Rivage’s longstanding track record of providing tailored debt financing to renewable energy and low carbon emission infrastructure projects across Europe. So far, around EUR 1.5 billion have been invested by Rivage in solar farms and wind plants in 8 European countries (Estonia, Finland, France, Germany, Italy, Netherlands, Spain and Sweden) over the past 10 years.
Jelle van der Giessen, Chief Investment Officer of NN Group: “Contributing to sustainable energy solutions is a core objective of NN Group. The new commitment in the Infrastructure Climate Solutions fund will enable us to further support the energy transition and move to net-zero in Europe. The commitment is part of NN’s target to invest an additional EUR 6 billion in climate solutions by 2030.”
Hervé Besnard, CEO and founder of Rivage Investment: “We are proud to support NN Group with our dedicated long-term sustainable investment expertise which focuses on delivering both attractive performance and ESG impact. This fund marks a new and important milestone in our development”.
Please see here for more information on NN Group’s climate action approach and policy to transition to a low carbon economy.