Glennmont Partners has expanded its investment capacity in the clean energy infrastructure space with the addition of a third investment fund. Through the new fund, Glennmont is seeking opportunities for a portfolio of clean energy infrastructure projects in Europe, including solar PV, offshore and onshore wind, bioenergy and small-scale hydro projects. The fund will target to-be-built and recently operational assets with stable, predictable cash yields underpinned by regulated and contracted revenues, according to Glennmont. The investment strategy is consistent with Glennmont’s prior portfolios of 355MW and 500MW respectively, the company said. Glennmont CEO, Joost Bergsma said: “Glennmont continues to believe that the clean energy market is attractive to investors and delighted to have expanded its investment capacity allowing us to continue to find and deliver value across a diversified portfolio of power generation assets.” Fears of reduced profitability due to reducing government support schemes have been offset by the falling costs of renewable power produced; many new routes to market for power, such as the corporate PPA market; and the extension of a number of government support schemes, Glennmont said. Christopher Knowles, Head of EIB’s Infrastructure Fund and Climate Action Team, said: “EIB welcome the announcement by Glennmont Partners that it has returned to the clean energy investment market and is investing its third clean energy fund. This news is indicative of the momentum behind the global shift towards low carbon technologies that we are seeing currently. With investment in clean renewable energy at record levels we can look forward to a similarly successful year in 2018 as we continue to drive innovation, create high value jobs and tackle climate change.”
Investment manager Glennmont Partners has launched its third renewable energy fund, which will target to-be-built and newly operational assets with predictable cash flows. Glennmont is looking to build a portfolio of European clean energy assets, including solar PV, offshore and onshore wind and small-scale hydro projects.